TripAdvisor Stake Sale Pays Off for Tiger Cubs

Barry Diller’s sale of 4.8 million shares of the travel website to Liberty Interactive sent the company’s share price soaring, benefitting several high-profile hedge funds.

The smart money set has earned its nickname, at least where one investment is concerned.

News on Tuesday that Liberty Interactive bought about 4.8 million shares of travel website TripAdvisor from Barry Diller and the Diller-von Furstenberg Family Foundation at $62.50 apiece was a boon for several high-profile hedge funds, especially the most famous Tiger Cubs.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.