AUSTIN, Texas – Tiger Global , an Austin, Texas-based private investment firm, announced today the first and final closing of its oversubscribed second fund, Tiger Global II, L.P. Capital commitments totaled $150 million, above the $100 million target size. Tiger Global received strong support from existing investors as well as new limited partners. Tiger Global ’s investors include a diverse group of limited partners such as large financial institutions, private equity fund of funds, prominent family offices, endowed trusts, government entities, and the partners of Tiger Global , who represent the largest commitment to the fund.
Tiger Global is led by founding members, Peter Huff and Jim McBride, and has a team of five investment professionals including Adam Norris, Chris Petrini, and Ali Williford. Eric Weiner, a former Berkshire Partners professional in Boston, is slated to join the team this summer after he completes his MBA at Stanford. The firm anticipates adding one or two additional investment professionals early next year.
Wells Fargo’s Tim Rafalovich, a senior member of the bank’s private equity fund investment team, stated that “Tiger Global is a respected fund in the private equity industry. We appreciate their partnership and congratulate them on their recent successes.”
In its first fund, Tiger Global invested in thirteen companies in a variety of industries. Tiger Global ’s portfolio includes oilfield waste manager, R360 Environmental Solutions; wastewater equipment company, Ashbrook Simon-Hartley; pizza chain, Mr. Gatti’s; and mannequin designer, Fusion Specialties.
Tiger Global II will continue Tiger Global ’s proven strategy of investing in founder-owned businesses in Texas and the Southwest with $3 million to $10 million of cash flow, where Tiger Global can add value by partnering with management to build and grow great companies.
John Barnidge, a senior executive of R360 Environmental Solutions, a Tiger Global portfolio company that recently sold to Waste Connections, Inc. for over $1.3 billion in cash, noted that “Tiger Global has been an active and supportive partner, helping us grow in spite of difficult economic times, and leading us through a very successful recent exit. I look forward to continuing my partnership with the firm as an investor in Tiger Global II.”
About Tiger Global
Tiger Global is an Austin, Texas-based private investment firm specializing in growth, recapitalization and buyout financings of smaller middle market companies based in Texas and the Southwest. Most of Tiger Global ’s investments are in established, profitable companies with $10 million to $100 million of revenue and $3 million to $10 million of cash flow at the time of investment. Tiger Global invests in a variety of industries, with each initial investment typically ranging from $10 million to $15 million. For more information regarding Tiger Global , please visit www.bluesage.com.
Please contact Peter Huff of Tiger Global at (512) 536-1901 for any requests for comments or questions.