Tiger Global Management partner Feroz Dewan will be departing the firm at the end of June to start his own business, Reuters reports.
Dewan has been at Tiger Global for 12 years, running the hedge fund’s operations. In an unrelated move, partner Caleb Watts will be departing the firm as well to manage his own money.
Tiger Global’s $20 billion in assets is split with a bit more than $10 billion in private equities, $6 billion in the hedge fund, and $3.5 billion in long-only portfolios. The hedge fund is down 2.4% in 2015 thus far, but had a 3.2% gain in April. The firm is heavily focused on technology, with its biggest holding in Chinese e-commerce company JD.com.
Tiger Global was started by Julian Robertson’s student and so-called “Tiger Cub” Chase Coleman. Some Tiger Cubs have been top performers in the industry, but others have recently been forced to close. TigerShark, Tiger Consumer, and JAT Capital Management have all shut their doors.
Photo: Steve Wilson via Flickr.