Funds News

UPDATE 1-Tiger Global private equity head Lee Fixel to depart -letter

(Adds detail from letter, requests for comment, assets)

NEW YORK, March 14 (Reuters) - Lee Fixel, a partner and head of the $13 billion private equity business at Tiger Global Management LLC, plans to leave the firm on June 30, according to a letter sent to clients on Thursday seen by Reuters.

Scott Shleifer and Chase Coleman will continue as co-portfolio managers of Tiger Global’s private equity business, with Shleifer to take over as its head, according to the letter.

Fixel, who joined Tiger Global in 2006, will invest his own money and “may start an investment firm in the future,” Tiger Global wrote in the letter.

“We are grateful for Lee’s innumerable contributions,” the letter said. “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.”

A spokeswoman for Tiger Global, which manages $26 billion overall, declined to comment. Fixel did not immediately respond to an email seeking comment. (Reporting by Lawrence Delevingne; Editing by Lisa Shumaker and Tom Brown)