Tiger Global Cuts Short Position in Spanish Bank

January 31st, 2010
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Less than a week before Banco Popular announced its results from 2009 in January, Chase Coleman’s Tiger Global Management drastically reduced its short position in the Spanish bank’s shares. According to the Financial Times, Banco Popular reported a 27% drop in net profit for 2009, a better figure than investors had expected, and its share prices rose over 6% following the announcement. Before the announcement, Tiger Global had cut its short position in Banco Popular, which had been hard hit by the global economic downturn, from 0.9% in July of 2009 to 0.22% in January of 2010.

Tiger Global Management is a hedge fund manager that was founded in 2001 by Chase Coleman. The hedge fund was seeded by renowned hedge fund guru Julian Robertson, the founder of Tiger Management.
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Tiger Global Management
Tiger Management
Related People: Alex Robertson; Chase Coleman; Feroz Dewan; John Townsend; Julian Robertson; Julian Robertson; Neeraj Chandra
Related Entities: Tiger Asia; Tiger Consumer; Tiger Global; Tiger Management LLC; Tiger Shark Management; Tiger Veda; Tiger Fund *; Tiger Global Funds; Tiger Jaguar Fund*; Tiger Management Corp; Tiger Management Corporation; Tiger Management LP; Tiger Puma*; Tiger Technology LP
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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