Tiger Global Is Poised to Reap $1 Billion Profit on Peloton
- Hedge fund firm took stake in exercise-equipment maker in 2014
- Tiger Global’s assets under management rose 80% in four years
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Chase Coleman’s Tiger Global Management spent the past five years amassing a stake of almost 20% in exercise company Peloton Interactive Inc. That is about to pay off handsomely.
The money manager will record a profit of at least $1 billion on its investment in the startup, based on the company going public at $26 a share, said a person familiar with the matter who asked not to be identified because the information is private. The firm is poised to reap at least a 70-fold increase on its initial investment in 2014, according to data from EquityZen, a marketplace for private stock sales. It also participated in subsequent funding rounds.