But suddenly, Chase Coleman is stumbling, and hard.After a tough 2021, his Tiger Global Management has piled up losses this year that have set the industry abuzz -- a staggering 34% slump for the firm’s hedge fund through March. Coleman, 46, showed that fees of 2-and-20 could still be a price worth paying: in 2020 alone, his flagship hedge fund jumped 48%.The recent turn in Tiger Global’s fortunes have hurt more than Coleman’s professional pride. Through 2020, Tiger Global’s annualized returns at its hedge fund were more than 20%, with just two years of losses.But now its biggest wagers are dragging the fund down. Fellow Tiger cub Philippe Laffont’s Coatue Management, another firm that’s had stellar performance on the back of its tech wagers, tumbled 10% in the first quarter. Last year, those funds gained 54% and returned $4 billion to investors, according to a person familiar with the matter.

Source: Economic Times April 04, 2022 01:28 UTC