The hedge fund success story of the past two years has gotten big enough.
Tiger Global Management, which returned 45% last year and which has grown to manage more than $8 billion, will return some of that money to investors at the end of the year. The New York-based hedge fund said it feared for its returns—it's up 25.5% this year—if it got any bigger, the New York Post reports.
"We continued to believe that managing a smaller asset base gives us the best chance to generate strong returns over the long-term," managers Chase Coleman and Feroz Dewan said.
Tiger Global joins the likes of Moore Capital Management in making a distribution to investors. Moore blamed disappointing returns and a lack of opportunities for its decision to return $2 billion to investors earlier this year.