2 min read.Updated: 15 Mar 2019, 07:48 AM ISTHema Parmar & Olivia Zaleski, Bloomberg
Tiger Global's private equity head, Lee Fixel, is leaving the firm to manage his own money and may start an investment firm later
Under him, Tiger Global reaped about $3 billion from its investment in Flipkart after Walmart bought the firm in May 2018
New York/San Francisco:Lee Fixel, head of Tiger Global Management’s private equity 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 30 June, Tiger Global said in an email to investors seen by Bloomberg. Scott Shleifer will take over as head of the unit. Fixel, 39, may start his own investment firm, according to the email.
Tiger Global also won a $1.6 billion cash dividend on its investment in e-cigarette startup Juul Labs Inc., which sold 35% of itself to tobacco giant Altria Group Inc. 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 private equity 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 SA.
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.