Thursday, 3 September 2015
Last updated 1 hour 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…