Tiger Bay Management

Adam T. Grossman, the firm's President and founder, serves as the primary decision-maker across all asset classes. Grossman previously worked as an investment analyst at Markel Gayner Asset Management, the captive asset manager for insurer Markel Corporation. He launched Tiger Bay in 2007 as an independent vehicle for his own capital and investment philosophy.

Tiger Bay's public-equity positions come through standard market purchases, often built over years through open-market accumulation of companies the firm studies deeply. Its real estate and private credit deals are sourced through local Miami networks and broker relationships. The firm does not operate a formal deal-sourcing platform or external marketing funnel.

Structurally, Tiger Bay sits between the two. It manages partner capital as an internally funded investment partnership rather than marketing to outside limited partners, which gives it a family-office-like permanence. However, it reports positions publicly through 13F filings and operates a concentrated long-equity book that shares DNA with value-oriented hedge funds.

Tiger Bay has focused on multi-family residential properties in the Miami area. These acquisitions are held directly rather than through third-party managed funds. The real estate sleeve serves as a hard-asset income stream and a hedge against the mark-to-market volatility of the firm's public-equity holdings.

Tiger Bay is an entirely separate entity from Markel Corporation. The connection is biographical: founder Adam Grossman worked as an analyst at Markel Gayner Asset Management before launching Tiger Bay in 2007. Markel has appeared as a long-standing position within Tiger Bay's public-equity portfolio, consistent with the firm's philosophy of owning businesses it understands deeply.

Tiger Bay's public filings and structure suggest a conservative approach to leverage. The firm's permanent-capital structure means it does not face redemption-driven liquidity demands, though it may use mortgage-level financing on specific real estate acquisitions. The firm does not publicly disclose a leverage ratio.

Tiger Bay does not publicly report asset levels or investment performance. Because it does not actively solicit outside capital, it is not required to disclose returns to external benchmarks. The firm's primary public footprint is its 13F quarterly equity filing and its real estate acquisition records in Florida.