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70. Tiger Global Management / $9.8 billion

Location:

New York, NY

Founded:

2001

2016 Hedge Fund 100 Rank:

No. 68

2016 Capital:

$10 billion

2015 Hedge Fund 100 Rank:

No. 66

2015 Capital:

$10 billion

Years on List:

Address:

9 West 57th Street, 35th floor
New York, NY 10019

Phone:

212-984-8800

Fax:

212-557-1701

Profile & News

Firm Overview

For Charles (Chase) Coleman III, Wall Street runs deep in his blood. The 39-year-old founder of hedge fund firm Tiger Global Management is a descendant of New York’s last Dutch governor, Peter Stuyvesant, who built the original protective wall on Wall Street in the mid-17th century. Though neither of his parents worked in finance — his father was a partner at law firm Pillsbury Winthrop Shaw Pittman and his mother owned an interior design firm — Coleman grew up among some of the industry’s best on Long Island’s North Shore, including, fatefully, Tiger Management’s Julian Robertson Jr.

Coleman’s story is remarkable. At age 22, he was hired straight out of Williams College, where he earned a BA in Economics and Spanish in 1997, as a technology analyst at Tiger Management, then the second-biggest hedge fund in the world with $10.5 billion of assets under management. When Robertson shut down Tiger Management in 2000, he handed the 25-year-old Coleman $25 million in seed capital and the “Tiger" title to start Tiger Technology Management. Coleman changed the hedge fund firm’s name to its current moniker in 2005.

Coleman is one of the most successful Tiger Cubs, as Robertson’s disciples are known. In the past 15 years, he has turned the initial $25 million investment into a $10 billion hedge fund business, which was run by Feroz Dewan until mid-2015, and an additional $10 billion in its private equity and venture capital business. The young hotshot first qualified for Alpha‘s Rich List in 2008 when his firm generated a 71 percent net return the year before, far exceeding his impressive 43.7 percent seven-year average. He was the 18th-highest earning manager that year, pocketing $400 million. Coleman can thank Dewan for much of Tiger Global’s and Tiger Global Long Opportunities’ success. The partner, who managed the funds, qualified for the Rich List for the first time in 2015, earning $260 million. He left Tiger Global that June to start his own firm.

Success was briefly chased by losses: Tiger Global was down 26 percent in 2008 and one percent the following year. But Tiger Global was quick to rebound in 2010, surging 18 percent.

Coleman qualified for Alpha‘s Rich List in 2015 for the fifth time, earning $425 million the year prior thanks to long bets on media, Internet and financial stocks. Tiger Global netted 16.9 percent in 2014 and Tiger Global Long Opportunities rose 15.5 percent. Tiger Global Management introduced a new fund, Tiger Global Internet Opportunities fund, on January 1, 2015 and that same day reopened Tiger Global Long Opportunities. Poor performance in the short book in 2013 prompted Tiger Global — and several other Tiger Cubs and Tiger Seeds, including Philippe Laffont’s Coatue Management and Jonathan Auerbach’s Hound Partners — to launch a long-only fund in October. Tiger Global Long Opportunities, launched after raising $1.25 billion, is up more than 20 percent for the year through July 2014.

Coleman’s portfolio is largely in line with his fellow Tiger Cubs, with long-short investments focused on Internet, technology, telecommunications and media stocks. In 2013, however, he broke from the pack, moving offices from 101 Park Avenue, where many Tiger Cub hedge funds operate, uptown to 9 West 57th Street.

Strategy

The firm holds long and short positions in public equity and private equity investment opportunities and may invest in money market mutual funds and exchange-traded funds. Investment decisions are driven by internal and external research and fundamental analysis.

The firm employs an investment strategy that engages in public equity and private equity investments. The public equity investment activities use a fundamentally-oriented investment approach based on internal and external research and fundamental analysis to make long and short investments. The private equity investment activities invest in sectors with strong long-term secular growth fundamentals as determined by internal and external research and analysis.

Funds and Fees Overview

Hedge Fund Fees
Management Fee	1.5 percent of net assets per annum paid quarterly in advance
Performance Fee	20 percent of net profits, subject to loss carry forward provisions, which may reduce the fee to 10 percent until loss recovery threshold is met

Long Opportunities Fund Fees
Management Fee	1.25 percent of net assets per annum paid quarterly in advance
Performance Fee	20 percent of net profits, subject to an underperformance carry forward provision and a clawback provision

Internet Opportunities Fund Fees
Management Fee	1.25 percent of net assets per annum paid quarterly in advance
Performance Fee	20 percent of net profits, subject to an underperformance carry forward provision and a clawback provision

Private Equity Fees
Management Fee	2 percent of capital commitments per annum paid quarterly in advance
Performance Fee	20 percent to 25 percent of net profits, subject to a clawback revision

Clients

The firm manages the open-ended private investment funds (hedge funds) and closed-end private investment funds (private equity funds) for institutional investors.

Regulatory Assets Under Management (RAUM)*
Discretionary	$35.02 billion (10 accounts)
Nondiscretionary	$0 (0 accounts)
Total	$35.02 billion (10 accounts)

Employees	80
Clients	11–25 total	80 percent non-U.S.
Fiscal Year Ends	December
All data as of December 31, 2014. *Regulatory Assets Under Management (RAUM) includes no deduction of offsetting liabilities, thus representing gross AUM, not net AUM. RAUM calculations include leverage, proprietary assets and uncalled capital commitments, among other items not required in the calculation of AUM.

Owners and Executives

Name	Position	Position Held Since
Charles Coleman III	Founder, Member, Principal Owner	03/2001
Anil Crasto	COO CFO	11/2010 04/2013
Steven Boyd	General Counsel	11/2008
Neil Schwartz	CCO	03/2011
Neeraj Chandra	Member	01/2013
Frederick Watts	Member	01/2013
Lee Fixel	Member	01/2013
Scott Shleifer	Member	01/2013