Joe Tsai’s Money Manager Blue Pool Adds to U.S. Stock Bets

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Blue Pool Capital, which manages part of the fortunes of Alibaba Group Holding Ltd. co-founders Joe Tsai and Jack Ma, took new equity positions in Hudson Pacific Properties Inc. and Airbnb Inc. last quarter, while adding to its bets on Microsoft Corp. and Facebook Inc.

The Hong Kong-based firm, founded in 2004, disclosed in a regulatory filing it held $441 million of U.S. stocks at the end of last year. That’s an increase of $144 million from September -- an almost 50% jump, compared with a 12% gain in the S&P 500 Index last quarter.

Money managers overseeing more than $100 million in U.S. equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges. It’s one of the few places to gain insight into how hedge funds and some large family offices invest in equities.

For instance, George Soros’s Soros Fund Management revealed this week a $280 million stake in QuantumScape Corp., which is attempting to pioneer solid-state lithium-metal batteries for electric vehicles. Stanley Druckenmiller’s Duquesne Family Office said it liquidated holdings in Alibaba and Netflix Inc., while David Bonderman’s Wildcat Capital Management disclosed a $429 million investment in Skillz Inc.

Blue Pool unveiled it holds 35 U.S. stocks, with the largest positions an $86 million stake in credit firm Owl Rock Capital Corp. and $28 million in UnitedHealth Group Inc. Its holding in real estate company Hudson Pacific was valued at $18 million. A Blue Pool representative didn’t immediately respond to a request for comment.

This is just a snapshot of Blue Pool, which pursues multiple strategies, including public and private equities, hedge funds and global real estate -- one of its bets is in Brii Biosciences, a biotech company that focuses on treatments in diseases such as Covid-19 and HIV. Blue Pool’s chief executive officer, Oliver Weisberg, also manages the firm’s investments in the Brooklyn Nets, New York Liberty, San Diego Seals, Premier Lacrosse League and Los Angeles FC.

Tsai, currently Alibaba’s executive vice chairman, is worth $13.9 billion, according to the Bloomberg Billionaires Index. The Taiwan-born, who’s a Canadian citizen, went to Yale Law School and quit a job at an investment firm earning him $700,000 a year to join Alibaba on a salary of $50 a month. He soon started raising money from investors around the world, helping the e-commerce company become the giant it is now.

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