Atreides names Kelly Granat president and co‑CIO

Atreides Management has hired Kelly Granat, the co‑chief investment officer of Lone Pine Management, as its president and co‑chief investment officer. Granat is due to join the technology‑focused hedge fund early next year and will work alongside founder and chief investment officer Gavin Baker.

Granat spent nearly 20 years at Lone Pine, where she rose to co‑CIO. Lone Pine informed investors her departure is part of a long‑term succession plan and named Rahul Anne as co‑CIO alongside David Craver; Craver will retain final authority over investment decisions under the new structure.

Atreides manages about $15 billion and concentrates on technology sectors. The firm has taken early stakes in companies including SpaceX and Cerebras Systems. Gavin Baker left Fidelity Investments in 2017 after 18 years and founded Atreides.

At Atreides, Granat is expected to share responsibility for portfolio construction and investment strategy as president and co‑CIO, though the firm has not disclosed detailed reporting lines or operational changes.

Lone Pine is roughly a $20 billion firm. The firm reportedly lost about 36% in 2022, with estimated dollar losses near $10.9 billion that year. An investor familiar with the firm’s figures estimated its long‑short strategy has produced an annualised return of about 14.2% since inception through the end of June.

Atreides and Lone Pine declined to comment on the appointment.