Hedge Funds See Winning Didi Bets Lose Luster on China Crackdown
- Tiger Global, Coatue and Third Point were early Didi investors
- Such investors still likely made money on their overall stakes
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Marquee investors backing China’s largest private companies are being burned again by the country’s regulatory crackdowns.
Tiger Global Management, Farallon Capital Management and D.E. Shaw & Co. were early investors in Didi Global Inc., pouring in millions of dollars into the ride-hailing giant. So did Coatue Management and Third Point LLC. Now they’re feeling some pain with Tuesday’s share plunge.