Investment Group For Super Rich Coming To Canada
Alia McMullen
Jul 30th 2010 at 6:00PM More Filed under: Budgeting & Planning, Investing, Weird & Wonderful
Elite investment networking group TIGER 21 may only have 140 members, but with about US$10-billion stashed in assets, this club for the super rich packs a punch. And starting in January, the New York City-based group plans to open offices in four Canadian cities -- Toronto, Vancouver, Montreal and Calgary -- admitting up to 56 Canadians.
TIGER 21, which is an acronym for The Investment Group For Enhanced Results in the 21st Century, facilitates monthly meetings between groups of between 12-14 millionaire investors so they can talk about and analyze their investments in order to preserve and grow their wealth. The members are encouraged to be candid, divulging any personal family details that could affect their investment decisions.
So what does it take to become a member? First of all, you'll have to be one of the 30,000 Canadians with a minimum C$10-million in investable assets. That rules me out.
Secondly, you'll have to be willing to dish out the annual $30,000 membership fee. The group said in a press release that it will not take more than 56 Canadians in the first two years.
However, that's not all. Because privacy is of the utmost importance for group members, each candidate is carefully vetted to make sure they'll fit in with the TIGER 21 culture. According to the group, discussions have already begun with some Canadians who are interested in joining the club.
In addition to getting the opinions of their fellow rich investors, group members have also held meetings with influential business people and investors, including William Ackman of Pershing Capital Management, Izzy Englander of Millennium Management LLC, Renaissance Capital founder James Simons, Blackstone Group co-founder Stephen Schwarzman, David Rubenstein of the Carlyle Group, T. Boone Pickens, Carl Icahn, and best-selling financial writers, such as Ron Chernow, James Stewart and James Surowiecki.
Alia McMullen
Jul 30th 2010 at 6:00PM More Filed under: Budgeting & Planning, Investing, Weird & Wonderful
Elite investment networking group TIGER 21 may only have 140 members, but with about US$10-billion stashed in assets, this club for the super rich packs a punch. And starting in January, the New York City-based group plans to open offices in four Canadian cities -- Toronto, Vancouver, Montreal and Calgary -- admitting up to 56 Canadians.
TIGER 21, which is an acronym for The Investment Group For Enhanced Results in the 21st Century, facilitates monthly meetings between groups of between 12-14 millionaire investors so they can talk about and analyze their investments in order to preserve and grow their wealth. The members are encouraged to be candid, divulging any personal family details that could affect their investment decisions.
So what does it take to become a member? First of all, you'll have to be one of the 30,000 Canadians with a minimum C$10-million in investable assets. That rules me out.
Secondly, you'll have to be willing to dish out the annual $30,000 membership fee. The group said in a press release that it will not take more than 56 Canadians in the first two years.
However, that's not all. Because privacy is of the utmost importance for group members, each candidate is carefully vetted to make sure they'll fit in with the TIGER 21 culture. According to the group, discussions have already begun with some Canadians who are interested in joining the club.
In addition to getting the opinions of their fellow rich investors, group members have also held meetings with influential business people and investors, including William Ackman of Pershing Capital Management, Izzy Englander of Millennium Management LLC, Renaissance Capital founder James Simons, Blackstone Group co-founder Stephen Schwarzman, David Rubenstein of the Carlyle Group, T. Boone Pickens, Carl Icahn, and best-selling financial writers, such as Ron Chernow, James Stewart and James Surowiecki.
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