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Tiger Global takes big stake in Apollo

Tiger Global, the hedge fund firm founded by Chase Coleman in 2001, has built a big stake in private equity group Apollo Global as the firm pivots from the technology investments that have been its stock-in-trade in recent years, according to a report by The Financial Times.

The report cites a mid-year investor letter seen by the FT as revealing the stake in Apollo, which Tiger Gobal describes as a “leading global alternative investment manager”. While the size of the stake has not been disclosed, according to the FT, the fact that it has been mentioned indicates that it is large.

The letter also reveals that as well as Apollo, Tiger has also “selectively added” other new holdings in the aerospace and healthcare sectors.

Tiger’s flagship fund has gained more than 20% so far this year compared with the same period in 2022. At the half-year point of last year the fund had lost about 50 per cent of its value compared to 2021. 

Earlier this week, Tiger revealed it had sold its remaining stake in Flipkart to Walmart for $1.4bn at a valuation of $35bn, taking overall gains from its investment in the Indian ecommerce company to $3.5bn.

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