Tiger Global management is undergoing a leadership shuffle with longtime private equity lead Scott Shleifer shifting to an advisory role following a challenging investing era marked by rapid-fire but often ill-timed startup deals that saw returns diminish amid a market downturn.
Summary
Shuffle for the firm
Tiger Global Management is undergoing a major leadership shuffle following a turbulent investing stretch for the prominent VC and hedge fund firm.
Scott Shleifer, longtime head of Tiger’s private equity business, will shift to a senior advisor role in 2023 after overseeing a period of bold but often ill-timed startup investments.
Leadership Take Over
Tiger founder Chase Coleman will take over leadership as Shleifer moves to Florida for family reasons.
Coleman praised Shleifer’s “crossover investing model” but said Tiger will form an investment committee to aid decisions.
Shleifer’s tenure saw rapid-fire deals that likely drove up valuations, only for returns to sink once markets shifted. Tiger gained $12.7B for a new fund in March 2022 just before the downturn hit.
A rebound in AI stocks and other areas has helped Tiger recoup some losses, but the firm still hasn’t closed a new $6B fund marketed since last year.
The leadership change closes the book on an aggressive investing ethos that defined Tiger during the bubbly era of hyper-growth tech. With markets now transformed, Coleman will plot Tiger’s path forward in a new climate.
