Tiger Global Losing $185 Million a Day

One of the world’s largest hedge funds is fighting for survival. Tiger Global Management has lost $42 billion this year — $185 million for every trading day.

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The fund has been stung by bad bets in public tech stocks and startups. From a report in the trade journal PYMNTS:

Tech investor Tiger Global Management has reportedly slashed the value of its private funds by nearly 25% this year, leading to one of the industry’s largest-ever declines in assets at $42 billion.

Meanwhile, some of the companies held by Tiger Global’s venture unit that had been private but have since gone public lost value, sources told Bloomberg.

The unit oversaw around $43 billion as of the end of September, falling from $65 billion at year-end. Assets in the firm’s public investment operation shrank from $35 billion to $15 billion the sources said. Tiger Global was not immediately available for comment.

The real losses may be even bigger. The NASDAQ is down 30% this year, significantly worse than the markdown Tiger has taken on its startup portfolio.

To add insult to injury, Tiger was burned in the bankruptcy of FTX. The fund’s $38 million investment is now worth zero.

For Tiger’s public stock portfolio, the picture is especially bleak. The portfolio is down 57% this year.

This means Tiger’s public stocks would have to more than double just to get back to even. With a weak world economy, this seems unlikely.

I think Tiger’s shutdown is imminent.

The firm cannot charge performance fees until it makes back its losses. That could be years from now, if ever.

That juicy 20% performance fee is the lifeblood of hedge funds. Without it, there are no big year end bonuses.

Let’s face it: people don’t join hedge funds to save the world. They sign up to make money, and lots of it.

With Tiger’s future in doubt, employees are likely to jump ship.

But if the managers create a new fund, they start with a clean slate. They can start charging performance fees again on day one.

Nice for them. Not so nice for their investors.

What do you think the future holds for Tiger? Leave a comment at the bottom and let me know!

More on markets:

Is SBF Headed to Prison?

How SBF’s Hedge Fund Imploded

Hedge Funds Lose Billions as FTX Implodes

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Photo: Tiger Global CEO Chase Coleman


13 thoughts on “Tiger Global Losing $185 Million a Day”

  1. Who on earth would want to invest money with a former tiger global employee that just hit one of the biggest icebergs in financial history? Are they wanting to do the same with their money?

    Liked by 1 person

  2. This is the same Tiger Global I recall reading about thru out 2020 that made history with its investments. There will always be some good years and some bad years. It seems like this has been the only bad year so far for them. I wouldnt sell a hedge fund like that short, They will be back in the rise with their talent.


  3. If we see change in oversight and regulation that truly stops corruption in our markets I believe hedge funds like Tiger will still exist, but be far less profitable. When all the big players have to play by the rules we will see profits decline across the entire financial industry. Hedge funds will have to become much smarter to survive what may be coming. I personally can’t wait for that day, with how connected the world is today information travels so much faster than the past. I hope this means change will happen faster, as well.


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