Why This One-time II Rising Star Now Manages More Than $4 Billion

Skye posts double-digit gains in the second quarter, while managing risks better than long-short hedge fund peers.

Microsoft was one of Skye Global's largest positions in the first quarter. (Brendon Thorne/Bloomberg)

Microsoft was one of Skye Global’s largest positions in the first quarter.

(Brendon Thorne/Bloomberg)

After generating huge gains in 2019 and 2020, Skye Global Management has come down to earth — or at least a little closer — this year.

The long-short fund headed by Jamie Sterne, who was named to Institutional Investor’s list of Hedge Fund Rising Stars in 2018, posted a gain of between 11 percent and 12 percent in the second quarter, according to two investors.

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