Tiger Bay Management

Tiger Bay Management

Tiger Bay Management was founded in 2007 by Adam T. Grossman in Miami, Florida. The firm grew out of Grossman's tenure as an investment analyst at Markel Gayner Asset Management, the in-house asset manager for the specialty insurer Markel Corporation, where the philosophy of owning high-quality businesses for the long term was core to capital allocation. Grossman transported that patient, fundamental approach into an independent partnership structure, operating in the public markets but with a multi-asset mandate that softens the line between a pure long-equity fund and a broader holding company. Tiger Bay's strategy is built around concentrated, long-duration public equity positions alongside targeted investments in private real estate and structured credit. The firm has historically carried a concentrated portfolio of fewer than 20 public names, often holding positions for a decade or longer. Major disclosed equity positions have included Markel Corporation, Berkshire Hathaway, and Walt Disney—companies the firm has argued possess durable competitive advantages and strong management cultures. On the direct real estate side, Tiger Bay has acquired and managed multi-family residential properties in and around Miami, viewing them as a hard-asset complement to its paper-equity holdings. The credit sleeve has taken the form of bespoke debt investments, including mortgage notes and select private lending arrangements. Geographic deployment is concentrated in the United States, with the firm's real estate activity rooted in South Florida. Tiger Bay operates as a lean partnership, with Grossman serving as President and primary investment decision-maker. The firm does not publicly disclose its assets under management or total deployment to date. Its offices are located in Miami. The firm's adjacent activities include a modest philanthropic footprint through donor-advised fund giving, though no separate foundation structure is publicly documented. Structural differentiation from peers comes through its hybrid approach: Tiger Bay is neither a registered investment advisor (RIA) marketing to outside capital, nor a strict family office. It functions as an internally funded investment partnership with the latitude to hold permanent capital across public equities, physical real estate, and private credit—a construct designed for duration rather than quarterly liquidity. What distinguishes Tiger Bay structurally is its allocation philosophy. The firm treats its public equity portfolio less like a hedge fund book and more like a permanent holding company that happens to be mark-to-market daily. This allows it to absorb short-term volatility without altering its core thesis on positions like Markel or Berkshire Hathaway. The real estate side provides an uncorrelated income stream that reduces reliance on equity sales for operating liquidity. This durational mismatch between assets and liabilities—permanent assets, no external redemption pressure—is uncommon among firms of its size class and is the direct inheritance of the Markel Gayner training Grossman brought with him to Miami.