Tiger on the prowl for first deal

The Julian Robertson (pictured) backed infrastructure fund is currently hunting for a first deal to help unlock a fundraising that could reach $500m. The fund held a first close last September and has currently raised some $175m.

Tiger Infrastructure Partners (Tiger), the much-vaunted infrastructure fund manager started by ex-Lehman Brothers infrastructure head Emil Henry, is on the lookout for a first deal to help spur its fundraising along, sources told Infrastructure Investor.

Tiger held a first close last September on $113 million, according to a regulatory filing, and has currently amassed some $175 million on its way to a purported $500 million fundraising target, sources said. 

Earlier this year, Henry told Infrastructure Investor that he was bullish on shale gas and energy-from-waste. “The development of shale gas coupled with the commercialisation […] to exploit it” ranked as the most important development in the energy sector in the past 20 years, the Tiger boss argued.

“The building out of the gathering, transportation and treating infrastructure to exploit this resource are going to continue to be a major opportunity for the foreseeable future,” Henry added.

Henry also said New York-headquartered Tiger gained interest in energy-from-waste as a result of a need for “base-load renewable power,” as well as the landfill tip-fee level and an improvement in plant design. The energy-from-waste process is based on creating electricity or heat from the incineration of a waste source.

Henry started Tiger in 2009 with financing from investment legend Julian Robertson, who once ran hedge fund company Tiger Management. Prior to that, he worked as global head of infrastructure for Lehman Brothers, before the Wall Street firm collapsed in 2008. He has served as assistant US secretary to the Treasury.

Robertson, who bankrolled the launch of Tiger Infrastructure Partners, managed $22 billion when Tiger Management was at its peak before retiring in 2000. The hedge fund legend has retained an involvement in the alternative asset space, providing financial backing for not just Henry, but a host of hedge fund talent.