Tiger Global hit by $17 billion losses in tech rout: report

New Delhi: New York-based Tiger Global has lost about $17 billion as a result of this year's selloff in technology stocks, one of the largest dollar falls for a hedge fund in history, the Financial Times reported on Tuesday.

According to estimations by LCH Investments, Tiger Global lost around two-thirds of its gains in four months.

But investors who put money into the fund at launch have made more than 20 times their initial investment, the report added.


According to the report, the losses are higher than some of the $4-trillion hedge fund industry's most recent losses. These include Bridgewater's $12.1 billion loss in 2020 amid the coronavirus pandemic, and Melvin Capital's $7 billion loss during the GameStop retail trading frenzy at the start of 2021.

Chase Coleman, a so-called 'Tiger Cub' who worked at famed investor Julian Robertson's hedge fund Tiger Management, launched Tiger Global 21 years ago, managing about $90 billion in assets.

Coleman's fund has earned significant gains for investors in the past, thanks to risky bets on tech firms.

LCH placed him as the 14th best-performing hedge fund manager of all time by the start of 2021, with $10.4 billion in gains for investors the previous year and a total of $26.5 billion since debut, FT reported.