Lee Fixel, a partner at alternative investment manager Tiger Global Management, will leave the firm June 30, the company announced Thursday.
Mr. Fixel heads the firm's estimated $13 billion private equity business and co-managed private equity strategies with Charles P. "Chase" Coleman III, partner and the firm's founder, and Scott Shleifer, partner.
Mr. Shleifer will become head of the private equity business after Mr. Fixel's departure. He and Mr. Coleman will remain co-managers of the firm's private equity strategies, according to a memo sent Thursday to investors and obtained by Pensions & Investments.
"We are grateful for Lee's innumerable contributions to Tiger Global since he joined the firm in early 2006. Lee has been a driving force behind the expansion of Tiger Global's private equity investing activities in the United States and India and he has distinguished himself as a world-class investor across multiple sectors and stages," the company memo said.
Mr. Fixel will "actively invest his own capital and may start an investment firm in the future. While we will miss seeing him in the office on a day-to-day basis, we look forward to collaborating closely with him in the years to come," the memo said.
Mr. Fixel could not be reached for information about his future plans.
Tiger Global Management's memo said Mr. Fixel will continue to manage some existing private equity portfolio companies for which he now is responsible for and will continue to serve on the boards of selected companies, the memo said.
"We believe there is strong incentive alignment amongst all parties, as Lee has a substantial (limited partner) investment in each PIP (private equity) fund and meaningful co-investments in many of the portfolio companies he sourced. In addition, he retains material economics in our PIP funds," the memo stated.
Tiger Global Management runs a total of about $26 billion, including in hedge funds.
