As [Lee] Ainslie [founder of Maverick Capital Ltd. of Dallas] began attracting assets and adding investment staff, he created a business model that differs slightly from those of most large funds, which generally fall into two categories.
One is the Julian Robertson [founder and managing partner of Tiger Management Corp. of New York] approach, in which one or two guys run the show and make virtually all the investment decisions.
The other, the model preferred by Paul Jones's Tudor Investment Corp. [of Greenwich, Conn.] and Steven A. Cohen's SAC Capital [of Stamford, Conn.] is to have various desks, each more or less auton-omous, making investment decisions for their own books.
A leader at the helm of the firm takes care of risk management and asset allocation.
Maverick's model is a hybrid of the two. The firm has six industry sector heads, most of whom are more or less the same age as Mr. Ainslie.
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