Tiger Cubs: How Julian Robertson Built a Hedge Fund Dynasty

When the implosion of Archegos Capital blew a hole worth more than $10bn out of a clutch of banks, one line in the biography of founder Bill Hwang stood out: Tiger Management.

Prior to the private investment firm’s collapse in March, Hwang was an obscure figure better known for his guilty plea to wire fraud charges in 2012. Fellow investors were stunned he could have emerged from that to secure $50bn in borrowing from heavy-hitting banks to supercharge what proved to be ill-fated bets.

But his pedigree as a former Tiger fund manager placed Hwang — who worked at New York-based Tiger Management from 1996 to 2001 — among hedge fund royalty...