viking global investors reports profitable private funds amid public fund lag

Viking Global Investors, a well-known hedge fund firm, has recently reported mixed performance for its investment funds in 2023.

Viking Global Opportunities

The firm's hybrid hedge fund, Viking Global Opportunities, had a 1 percent return in the third quarter, reducing its year-to-date loss to 1.6 percent.

The overall performance of Viking's Opportunities funds has not kept up with its public funds. The Viking Global Equities long-short fund had a 9.3 percent increase, while the Viking Long fund surged by 18.2 percent.

Viking Global Opportunities Drawdown

Viking Global Opportunities Drawdown, the private assets fund, had a 4.2 percent return in the third quarter, bringing its annual gain to 8.3 percent.

However, the performance of Viking's funds reflects broader trends in the investment landscape, with private assets showing growth while the hybrid fund struggles to keep pace with public funds.

Viking's Private Equity Business

Viking's private equity business, which manages over $14 billion, has been active this year.

The firm focuses on investments in health care and life sciences, as well as midstage B2B enterprise software companies.

Viking has made 14 new investments in 2023, compared to 18 in 2022.

Recent investments include participating in a $115 million financing round for Triveni Bio, a company developing antibody treatments, and acquiring a minority stake in Humaneva for $50 million.

Viking Global Investors, founded by O. Andreas Halvorsen, is part of a group of hedge funds known as "Tiger Cubs" mentored by Julian Robertson.

The firm's substantial assets under management and focus on high-growth sectors position it well within the competitive hedge fund landscape.

However, the performance of its Opportunities funds suggests that Viking may need to reassess its investment strategies to align more closely with the successful returns seen in its public funds.

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