Executives of the New York-based hedge fund, private equity and venture capital firm reportedly believe Xi’s ongoing control means China’s zero-COVID policy will likely remain in place and that geopolitical tensions could increase—two factors weighing on the country’s economic growth. (The Wall Street Journal)

Talking point: The long-time investor in China has been shrinking its exposure to the country’s equities markets amid plummeting asset values and macroeconomic turmoil. Tiger isn’t alone in adopting a cautious approach to China’s market. In Canada, CPP Investments, the British Columbia Investment Management Corporation and the Caisse de Dépôt et Placement du Quebec have drastically reduced their exposure to U.S.-listed Chinese stocks. Tiger is also moderating its aggressive investment strategy outside China, as a broader recession looms. It announced last month it was targeting US$6 billion for a new private equity vehicle, less than half the size of its previous fund.