The New York-based asset manager has retained an adviser to help offload some of the equity it holds in startups and other non-listed firms on the secondary market, sources told the Financial Times. Tiger declined to comment to the publication. (Financial Times)
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The New York-based asset manager has retained an adviser to help offload some of the equity it holds in startups and other non-listed firms on the secondary market, sources told the Financial Times. Tiger declined to comment to the publication. (Financial Times)
Talking point: Tiger led the tech sector’s mid-pandemic fundraising bonanza, taking in billions in capital from investors and sending it back out the door just as quickly via fast-close, high-valuation deals. But money managers that combined stakes in publicly traded and privately held firms—and bet on some of those in the latter camp joining the former—have been hit hard by the sector’s ensuing stock-market volatility and writedowns. Without IPOs, such crossover funds must find other investors to take stakes off their hands. Tiger’s pandemic-plumped Canadian portfolio includes 1Password, Ada, Cohere, Dooly, Float Financial, Klue, ReqQ and Xanadu.
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