Publications
Publications
- June 2024
- HBS Case Collection
Tremblant Capital: Launching an Active ETF
By: Robin Greenwood, Luis M. Viceira and Robert Ialenti
Abstract
The case highlights deliberations led by Brett Barakett, CEO and chief investment officer of Tremblant Capital, just months prior to launching an actively managed ETF, Tremblant Global (TOGA). However, his team continued to have reservations around the launch. On the one hand, TOGA would provide investors compelled by Tremblant’s investment philosophy a more tax-efficient, liquid, and transparent product, at a lower cost than its long-only fund. On the other hand, there were concerns that TOGA might cannibalize Tremblant’s higher-fee hedge fund business, increase its disclosure requirements, and expose the firm to greater counterparty risk.
Keywords
Asset Management; Investment Funds; Product Launch; Risk and Uncertainty; Financial Services Industry
Citation
Greenwood, Robin, Luis M. Viceira, and Robert Ialenti. "Tremblant Capital: Launching an Active ETF." Harvard Business School Case 224-112, June 2024.