Charles “Chase” Coleman’s New York-based hedge fund firm Tiger Global Management is attempting to raise approximately $1 billion for a long-only fund.
The New York Post reported that the new fund is expected to start trading on October 1 with between $1 billion and $1.5 billion in assets. Coleman will manage the fund along with portfolio managers Feroz Dewan and Scott Shleifer.
Tiger Global managed about $8 billion in assets last year and was even up 23% mid-year, but Coleman liquidated $2 billion of the assets after difficulty in finding good investments. Tiger Global is best known for investing in big tech IPOs, such as Facebook, Groupon and LinkedIn.