Founding The company was founded by George Soros and his former business partner
Jim Rogers in 1970. Before starting the business, Soros and Rogers worked together at the investment bank
Arnhold and S. Bleichroeder.
21st century The firm acquired a stake in
Lehman Brothers just prior to its failure in 2008. In 2009, Soros Fund Management partnered with six other hedge funds to acquire
IndyMac Bank for $13.9 billion, thereby gaining control of an estimated $160 billion in bank loans, investments, and deposits. In 2010, the company was reported to have created $32 billion in profits since 1973, making it one of the top profit-making hedge funds in the industry. averaging a 20% annual rate of return over four decades. As of 2023, Soros Fund Management had US$25 billion in
AUM. In 2011, the firm was reported to have $27.9 billion in assets under management and was ranked sixth on
Institutional Investor's Hedge Fund 100 list. That same year, the company partnered with
Silver Lake Partners and created fund called Silver Lake Kraftwerk whose focus was investing in natural resource and energy companies. In July 2011, the fund announced plans to return just under $1 billion to investors by the end of 2011 to avoid reporting requirements under the
Dodd-Frank reform act and to focus on family investments. That month, the company's chief investment officer Keith Anderson, co-founder of
BlackRock left the firm. In September 2016, Soros Fund Management advised a private investment fund tied to Quantum Strategic Partners, which injected the bulk of $305 million into
SolarCity, a producer of solar panels. The flow of cash allowed
Elon Musk, chairman of
Tesla Motors and SolarCity, to purchase SolarCity and merge it with Tesla. In June 2018, the firm was reported to own 15% of
Justify, the horse that won the 2018
Preakness Stakes,
Kentucky Derby and
Belmont Stakes, through the international breeding and racing operation of SF Bloodstock and SF Racing Group. According to
The Wall Street Journal, Soros Fund Management gained 8.9% in 2017 and 0.9% in 2018. In the first quarter of 2019, the fund had gained 1.9%. In June 2019, Soros Fund Management led an investment in
Vice Media for $250 million. In August 2019, Soros Fund Management increased its stake In Manolete Partners Plc To 11.67%. As of August, 2019, Soros Fund Management's most significant holdings were
Liberty Broadband,
Vici Properties, and
Caesars Entertainment. In January 2020, George Soros announced at the
World Economic Forum that he would commit $1 billion to the launch of an international university, The Open Society University Network, for research and education on
climate change and dealing with
authoritarian governments. In April 2020, Amply Power, a company that provides charging solutions for fleets, received its series A funding of $13.2 million from Soros Fund Management,
Siemens, Congruent Ventures, PeopleFund, and Obvious Ventures. In November 2020, Soros Fund Management disclosed that it holds 1% Class A shares in
Palantir Technologies and announced that it has begun selling its shares as allowed because it disagrees with Palantir's business practices. In a statement to
CNBC, the company said, "SFM made this investment at a time when the negative social consequences of big data were less understood. SFM would not make an investment in Palantir today." In February 2024, Soros Fund Management emerged as the largest creditor in
Audacy's prepackaged Chapter 11 bankruptcy proceedings, holding over $400 million of its highest-ranking debt. This debt is planned to be converted into equity in the restructured company, making Soros a significant shareholder. Audacy views this development as a positive sign, interpreting it as a "vote of confidence" in the company's future. In November 2024, Soros Fund Management closed its Hong Kong Office. ==Operations==