New York–based Tiger Global Management’s private equity and venture capital arm led a Series D round of financing that raised $31 million for San Francisco-based customer support software provider Freshdesk. It was Tiger Global’s second investment in the company, according to crunchbase.com. Other investors participating in the recent financing include Accel Partners and Google Capital.
Tiger Global’s private equity business has been busy of late. It made a total of 14 investments in companies in the past two quarters, including eight in the first three months of this year and six in the fourth quarter of 2013, according to Dow Jones VentureSource. It is run by Scott Shleifer, who started the business, and Lee Fixel. The private equity group is separate from the firm’s hedge fund and long-only business, which manages roughly $7.5 billion and is run on a day-to-day basis by partner Feroz Dewan and Tiger Global co-founder Charles (Chase) Coleman III.
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Kenneth Griffin’s Chicago-based Citadel disclosed it owns about 4.5 million shares of shoe retailer DSW, or 5.5 percent of the total outstanding. A regulatory filing indicated the holding is a passive stake, which has roughly doubled since the end of the first quarter.
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Boston-based Adage Capital Management raised its stake in Acceleron Pharma by nearly 20 percent, to 1.6 million shares. As a result, it now owns a 5.09 percent passive stake in the biopharmaceutical company.
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Richard (Mick) McGuire’s Marcato International posted a 6.40 percent gain in May, paring the activist fund’s loss for the year to a mere 0.29 percent. At the end of the first quarter, Marcato had call options on Lear Corp., whose stock rose 6 percent in May. NCR, the fund’s largest common stock holding at the end of the first quarter, jumped 7 percent last month while The Goodyear Tire & Rubber Co., another large holding, rose 4.5 percent. The fund is run by San Francisco–based Marcato Capital Management.
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Lawrence Robbins’ New York–based Glenview Capital Partners surged 6.44 percent in May and is now up 7.81 percent for the year to date. Robbins earned $750 million in 2013, ranking number 8 on Alpha’s Rich List.
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Jeffrey Altman’s Owl Creek Overseas Fund, which posted an impressive 48.63 percent gain in 2013, is down 2.21 percent through May despite a 1.20 percent gain last month. Altman qualified for the Rich List’s second team, earning $125 million. It was the first time he has qualified for the Rich List.
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Hedge fund flows increased by 1.01 percent in June, reaching their highest levels in four months, as measured by the SS&C GlobeOp Capital Movement Index. Total assets under administration on the GlobeOp platform represent roughly 10 percent of the amount of assets invested in the hedge fund industry.
