Thursday, 18 September 2014
Last updated 5 hours ago
Sep 11 2013 | 2:20pm ET
Tiger Global Management, one of the most successful hedge funds in recent years, is doing away with the hedge for its latest fund.
The New York-based firm is planning a long-only vehicle to be helmed by founder Chase Coleman and two other portfolio managers, Feroz Dewan and Scott Shleifer. The fund is expected to debut on Oct. 1 with between $1 billion and $1.5 billion in initial assets.
Tiger Global has more than $11 billion in assets, even after returning $2 billion to investors late last year.
Tiger's long portfolio has posted annualized returns of 18% since 2001. Precise details about the new fund, including its strategy, were unclear.
What is clear is that investors will pay hedge-fund style fees for the vehicle, including 1.2% for management and 20% for performance over a 5% hurdle.
Aug 25 2014 | 11:21am ET