Tribeca Investment Partners Pty, and Aurora Cann Gr Tribeca Investment Partners Pty, owner of the world’s best-performing hedge fund last year, has found its next stock pick: a tiny grower of cannabis.
The Sydney-based money manager has bought shares in the initial public offering of Cann Group, the only Australian company that has a federal government license to cultivate marijuana for medicinal purposes, according to Ben Cleary, who co-manages the Tribeca Global Natural Resources Fund with Craig Evans. The fund, which soared 145 percent in 2016, is up 2.7 percent this year through the end of March.