Janice R. Andrews
Reputable hedge fund manager and Julian Robertson’s former apprentice David Goel announced the closing of his $11 billion company, Matrix Capital Management, citing health concerns. Goel, who was a co-founder of Matrix in 1999, sent a letter to his clients explaining his decision and his intention to repay their funds. Though the details of his health condition are yet unknown, Matrix, which is well-known for its tech-focused investments, is ending a 25-year run with this move.
Goel founded Matrix with an emphasis on focused stock bets in technology, artificial intelligence, and digital acceleration in the life sciences. Goel worked as a technology research analyst for three years at Tiger Management. The Waltham, Massachusetts-based company saw difficulties, most notably in 2008 when the fund fell 39.5%, but it was still able to provide double-digit returns in most of the years.
According to a recent regulatory filing, Matrix’s investment strategy has always been significantly weighted toward cutting-edge technology industries, with sizable positions in businesses including Nvidia Corp., Qualcomm Inc., and TransDigm Group Inc. These investments are a reflection of Goel’s technological know-how and his emphasis on industries that will lead innovation in the future.
Even though Matrix isn’t as well-known as the other Tiger Cubs, Goel has accomplished a lot outside of the financial industry. The David E. and Stacy L. Goel Centre for Creativity and Performance was established in 2019 thanks to a $100 million donation from him and his spouse to Harvard University, his alma mater.
An era has come to an end for Goel and the investors of the company, who have depended on his strategic insights in the quickly changing technological sector, with the closing of Matrix Capital Management.
