Tiger 21 started as a forum for high-net-worth investors to network with peers around asset preservation and wealth management issues and to learn about investment opportunities. Although these things continue to be the organization’s main focus, its members have broadened their focus to include discussions of family matters and inheritance issues. Increasingly, they are sharing ideas about philanthropy.
Today, Tiger 21 comprises 140 members who collectively manage some $10 billion in investable assets. To join a group, a prospective member must have a minimum of $10 million in investable assets and pay an annual membership fee of $30,000. A vetting process excludes anyone whose main goal in joining is to promote an investment idea, a Tiger 21 spokesperson said in a telephone interview with AdvisorOne. The client’s confidentiality is said to be assured. (The Tiger 21 spokesperson requested anonymity because of the sensitive nature of the company’s relationships with clients.)
At present, Tiger 21 has half a dozen groups in New York, where it is headquartered, and others in San Francisco, Los Angeles; San Diego; Palm Beach, Fla.; Miami; and Dallas. On Tuesday, the organization announced that Thane Stenner and Richard Deacon will spearhead its recent expansion into Canada, with groups starting in Vancouver, Calgary, Toronto and Montreal.
Each group has 10 to 12 members, many entrepreneurs who built successful enterprises. Members are expected to attend full-day meetings once a month 11 times a year. These meetings have a structured agenda. Each one starts with The World Update during which each member is given a few minutes to bring up any issue on his or her mind, including investment ideas, and to seek feedback. During the Issues and Opportunities session, members consider global matters that may affect their outlook and investment decisions. Later, World-Class Experts talk on various topics; usually one is an investment professional.
Finally, during Portfolio Defense, each member takes a turn once a year to disclose his or her investment portfolio and discuss its rationale. Fellow members then offer their critiques. According to a fact sheet, “the Portfolio Defense is the main differentiator from other peer-to-peer learning groups and is often a determining factor when someone is contemplating membership at Tiger 21.”