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Tiger Global's PE chief and Flipkart's biggest backer Lee Fixel to resign

Fixel led the $13-billion unit through deals that made billions of dollars in profit for the New York-based firm


Lee Fixel
Lee Fixel

Lee Fixel, head of Management’s business, is leaving the firm after more than a decade to manage his own money. Fixel, who’s a partner at the $26 billion firm, will depart on June 30, said in an email to investors seen by Bloomberg.

will take over as head of the unit. Fixel, 39, may start his own firm, according to the email.

Fixel led the $13-billion unit through deals that made billions of dollars in profit for the New York-based firm.

Tiger Global’s early in Flipkart, in 2009, eventually reaped about $3 billion after Walmart bought a majority stake in last year. That return on investment, in dollar terms, was one of the largest for the unit at the time, Bloomberg previously reported. Fixel is also on the board of

also won a $1.6 billion cash dividend on its in e-cigarette start-up Juul Labs, which sold 35% of itself to tobacco giant Altria Group last year. Fixel had led the firm’s roughly $600 million investment in the company.

“Lee has been a driving force behind the expansion of Tiger Global’s investing activities in the United States and India, and he has distinguished himself as a world-class investor across multiple sectors and stages,” the firm said. “Lee expects to actively invest his own capital and may start an investment firm in the future.”

As of May 2018, Tiger Global’s venture unit had made more than 200 investments in 30 countries, including an almost $2 billion position in Spotify Technology.

A Tiger Global spokeswoman declined further comment.

Fixel couldn’t be reached for comment.

Fixel grew up in Fort Lauderdale, Florida, and majored in finance at Washington University in St. Louis, spending time as an exchange student at the London School of Economics and Political Science in 1999. He joined Tiger Global after working as an analyst at hedge fund Alkeon Capital Management.

Shleifer co-founded Tiger Global’s business with Chase Coleman in 2003. Together they will continue as co-portfolio managers of that business, according to the email.

Coleman founded Tiger Global in 2001. He is a so-called “tiger cub", a term coined for alumni of Julian Robertson’s hedge fund Tiger Management, where Coleman was a technology analyst.

First Published: Sat, March 16 2019. 01:08 IST