According to a September 23rd article in the New York Times, Tiger Global Management has begun raising capital for a new $1.5 billion fund, less than six months after putting together another similar $1.5 billion fund. Tiger Global is a $15 billion investment firm that has invested in the early stages of success stories such as the Alibaba Group Holding Ltd (NYSE:BABA) and fashion sunglasses manufacturer Warby Parker.
Tiger Global declined to comment on the fund-raising.
Corsair Capital was down by about 3.5% net for the third quarter, bringing its year-to-date return to 13.3% net. Corsair Select lost 9.1% net, bringing its year-to-date performance to 15.3% net. The HFRI – EHI was down 0.5% for the third quarter but is up 11.5% year to date, while the S&P 500 returned 0.6% Read More
New fund will focus on PE and VC opportunities
The NYT sources say the new fund will be looking for private equity and venture capital opportunities, ie, the kind of investments that have made Tiger Global one of the best known backers of popular tech and media start-ups.
More on Tiger Global Management
Tiger Global Management was established back in 2005 with the backing of legendary hedge fund magnate Julian H. Robertson of Tiger Management. It was originally a traditional hedge fund, but investing in private companies, a division led by managers Lee Fixel and Scott Shleifer, now represents over half of the $15 billion in Tiger Global’s assets under management.
The firm is known for its creativity in making investments. For example, Tiger Global led an early round of financing in Harry’s, a shaving product company, designed to assist the start-up in purchasing a century-old German razor blade manufacturing plant.
One of the ways that the rapidly growing firm has distinguished itself from other Wall Streeters is its ability to seek promising investment opportunities in developed and developing economies across the globe. Tiger Global’s portfolio includes a significant stake in Flipkart, an Indian online shopping company, and a share of Quikr, a well-known Indian online classifieds site. Moreover, the firm managed to buy shares in Alibaba, the Chinese e-commerce giant with the mega-IPO last week, through the secondary market last year.