Hedge Funds Tiger Global and Melvin Swooned Last Month With Rate Hikes Looming

Coatue and Viking outpaced markets with single-digit declines
Equity hedge funds piled into growth stocks before year-end

Chase Coleman
Photographer: Amanda L. Gordon/Bloomberg

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By Katherine Burton and Hema Parmar

February 2, 2022 at 3:34 PM EST

Updated on

February 2, 2022 at 4:41 PM EST

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Tiger Global Management and Melvin Capital Management underperformed the broader equity markets in January as rising inflation and the specter of Federal Reserve rate hikes battered growth stocks.

Chase Coleman’s Tiger Global, which managed $100 billion across public and private markets at year-end, logged a 14.8% decline for its hedge fund, and Gabe Plotkin’s $11.7 billion Melvin Capital slumped 15%, according to people familiar with the matter.