Partner at Strategic Property Partners
Jeff is the current owner of the Tampa Bay Lightning and Tampa Bay Storm. Vinik managed the Fidelity Magellan Fund from 1992 to 1996, where he averaged 17% annual returns. After leaving Fidelity, he started hedge fund Vinik Asset Management, with partners including Michael Gordon (now President of Fenway Sports Group). He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio. Vinik and his partners closed down the fund in December 2013, and distributed $9Bn in assets. In 2010 he purchased a distressed Tampa Bay Lightning franchise with the stated intention of completely transforming the team on the ice and in the community. In executing his plan to bring a world class franchise to life in Tampa Bay, Vinik has invested more than $70 million in private funding into the publicly-owned Amalie Arena to create a guest-first facility recognized as one of the finest in the NHL. Additionally, under the umbrellas of the Vinik Family Foundation and the Lightning Foundation, Jeff and his wife Penny have invested more than $20 million in Tampa Bay area charities through a variety of programs and donations, the most notable being the Lightning Community Heroes program. The Lightning's success under Vinik has coincided with the emergence of a development company, Strategic Property Partners (SPP), LLC and its plan to develop nearly 60 acres in downtown Tampa's south core. SPP, a partnership between Vinik and Cascade Investment, LLC of Kirkland, Washington, is expecting to deliver approximately $3 billion in investment to reinvent the blocks surrounding Amalie Arena into a walkable 24-7 live, work play and stay wellness district. Construction of phase one is scheduled to begin in 2017 and it will include a School of Medicine for the University of South Florida, corporate office buildings, a hotel, residences, retail, restaurants, entertainment and improved infrastructure.