Tiger Global builds large stake in Apollo GM

Tiger Global has built a large stake in Apollo Global Management Inc. this year as part of a push into investments outside of technology, the Financial Times reported.

The hedge fund firm also selectively added holdings in aerospace and healthcare, the FT said, citing a mid-year letter to investors. Though Tiger didn’t indicate what size stake it holds in the private equity giant, its inclusion in the letter is a sign that it’s big, the newspaper said.

A regulatory filing earlier this year showed that Tiger held shares in Apollo at the end of March that would be worth about $225 million at Thursday’s close of trading.

Tiger Global’s flagship fund and a “crossover” fund sold to wealthy individuals have gained more than 20% this year from a year earlier, the FT said, citing documents it saw.

Chase Coleman’s firm is seeking to rebound from steep losses in the past couple of years. The hedge fund tumbled 56% in 2022. Bloomberg