By Steve Goldstein
The hedge fund Tiger Global has lost roughly two-thirds of the cumulative gains it has made for investors since its inception in 2001, according to data from an investor that tracks the industry.
LCH Investments estimates Tiger Global has lost about $17 billion this year. Heading into the year, Tiger Global had made net gains of $25 billion, according to LCH, which operates a fund of hedge funds and tracks the top 20 hedge fund managers annually.
Tiger Global lost $1.5 billion last year.
The estimates were first reported by the Financial Times .
Tiger Global’s top investments at the end of last year were JD.com /zigman2/quotes/205122565/composite JD +3.41% , Microsoft /zigman2/quotes/207732364/composite MSFT +3.41% , Sea Ltd /zigman2/quotes/202797958/composite SE +2.90% ., Nu Holdings /zigman2/quotes/231028167/composite NU +1.50% and Snowflake /zigman2/quotes/220991541/composite SNOW +5.88% , according to its 13-F filing at the Securities and Exchange Commission. All of those stocks have dropped at least 21%, with the Singapore tech company Sea skidding 71% in 2022.
Tiger Global was founded by Chase Coleman, one of the Tiger cubs who worked at Julian Robertson’s Tiger Management.
Bill Hwang is the most notorious of the Tiger cubs, having been charged by the Justice Department with fraud over his leveraged investments that blew up his family office Archegos Capital Management.