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© Provided by Business Insider Tiger Global founder Chase Coleman. Business Insider/ Mike Nudelman

  • Tiger Global has lost 6.3% in May in its flagship fund, sources told Insider.
  • The massive investment manager is down less than 1% in the flagship fund for the year.
  • The firm’s long-only fund also lost money in May, but is up for the year.
  • See more stories on Insider’s business page.

While billionaire Chase Coleman has pumped billions into the private markets this year, his flagship public-equity fund is down so far in 2021.

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The flagship was down 6.3% in May, sources tell Insider, and has lost 0.8% for the year through May. Tiger Global’s long-only fund lost 3.9% in May, but is up 4.3% for the year.

Several of Tiger Global’s biggest holdings in China have struggled this year, including e-commerce giant JD.com and agriculture tech platform Pinduoduo. Though Microsoft and Roblox – the firm’s second and third biggest holdings, according to regulatory filings – have increased in value this year.

The average hedge fund, through the same timeframe, is up nearly 10% for the year after returning 1.7% in May, according to Hedge Fund Research.

The flagship returned 48% in 2020 in a banner that saw the manager return the most money – $10.4 billion – to investors last year of any hedge fund. The long-only fund meanwhile had an even better year last year, returning more than 65% for the year.

Tiger Global, which manages $65 billion across its different funds, declined to comment.

The firm has been extremely active in the private markets to start the year, investing in more than 100 start-ups since the beginning of 2021. In early May, the tech-hedge fund was looking to raise a $10 billion fund from investors to keep scooping up deals, The Financial Times reported. Some of the names include Clubhouse, Stripe, and more.

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