Lee Fixel, head of Tiger Global Management’s private equity business, is leaving the firm after more than a decade to manage his own money. Fixel, who’s a partner at the $26 billion firm, will depart on 30 June, Tiger Global said in an email to investors. Fixel led the $13 billion unit through deals that made billions of dollars in profit for the New York-based firm.
Tiger Global’s early investment in Flipkart, in 2009, eventually reaped about $3 billion after Walmart Inc. bought a majority stake in Flipkart last year.Tiger Global also won a $1.6 billion cash dividend on its investment in e-cigarette startup Juul Labs Inc., which sold 35% of itself to tobacco giant Altria Group Inc. last year.
“Lee has been a driving force behind the expansion of Tiger Global’s private equity investing activities in the United States and India, and he has distinguished himself as a world-class investor across multiple sectors and stages,” the firm said.
Coleman founded Tiger Global in 2001. He is a so-called “tiger cub”, a term coined for alumni of Julian Robertson’s hedge fund Tiger Management, where Coleman was a technology analyst.