Investing
JPMorgan Packed Its Wealthy Clients Into Tiger Global Fund for Private Bets
- Bank pooled about $4.8 billion for new Tiger, Coatue VC funds
- It’s part of trend as banks help such vehicles raise billions
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As wealthy investors clamored to get into Tiger Global Management’s ever-soaring bets on startups, JPMorgan Chase & Co.’s ability to funnel cash to the high-flying money manager became the envy of rivals.
Now, with Tiger’s public investments cratering and all eyes on what happens to its stakes in private companies, the bank’s prestigious offering to clients is cutting the other way.