Bloomberg: Tiger Global Management cut its stake in Apollo Global for the first time in five quarters. Chase Coleman’s hedge fund sold about 3.8 million shares of the alternative asset manager, leaving it with a stake valued at about $1.1 billion as of the end of March. Tiger Global has long been an investor in the public shares of Leon Black’s private equity firm. It is Tiger Global’s fourth-biggest U.S. equity holding.
The firm also trimmed its stakes in a slew of tech names including JD.com, Microsoft, Amazon, Spotify, Paypal and Uber. Still, it bought more Facebook and Alibaba shares. It also bought public shares of Peloton. Tiger Global was an early investor in the exercise company, amassing a nearly 20% stake in the firm before its public debut last year. That bet ended up paying off handsomely for Tiger Global.
Meanwhile, Coleman’s firm also sold out of Slack Technologies -- one of the companies that has rallied as people work from home -- entirely.
The firm also trimmed its stakes in a slew of tech names including JD.com, Microsoft, Amazon, Spotify, Paypal and Uber. Still, it bought more Facebook and Alibaba shares. It also bought public shares of Peloton. Tiger Global was an early investor in the exercise company, amassing a nearly 20% stake in the firm before its public debut last year. That bet ended up paying off handsomely for Tiger Global.
Meanwhile, Coleman’s firm also sold out of Slack Technologies -- one of the companies that has rallied as people work from home -- entirely.