In 2011, Palestra Capital Management was the first hedge fund firm to receive a $100 million commitment from what was then Goldman Sachs Asset Management’s new seeding fund. Founded by Andrew Immerman and Jeremy Schiffman, New York–based Palestra now manages more than $900 million. The firm’s long-short fund focuses on value-based and event-driven opportunities. Immerman, 38, attended the Wharton School of the University of Pennsylvania and holds an MBA from Harvard Business School. The Wyckoff, New Jersey, native started his career in 1998 as an analyst in the investment banking division of Goldman Sachs Group, then moved to San Francisco two years later to work in private equity. Returning to New York, Immerman spent four years with Viking Global Investors, joining the firm as an analyst in 2006. Immerman credits his time at Viking for honing his hedge fund investing acumen. He has put those skills to work since starting Palestra with Schiffman, a longtime friend.