Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

US hedge fund dumps $1bn Barclays holding

US hedge fund dumps $1bn Barclays holding

US hedge fund Tiger Global has sold its entire stake worth almost $1 billion (£770 million) in Barclays

According to the Financial Times, the multi-billion dollar hedge fund started reducing its 2.5% interest last summer before selling the final tranche earlier this year. 

The news comes almost exactly a year after it amassed the stake to become the seventh biggest shareholder in the bank. 

The hedge fund made its first move into the bank in November 2017 when shares were trading at 180p. After rallying to 217p in March, shares were hit by the volatility in the final quarter of 2018 and are currently trading on 159.5p. 

The news will come as blow to Barclays chief Jes Staley, who had won the backing from Tiger Global in his battle with activist investor Edward Bramson. 

Barclays is scheduled to publish its full year results later this week. 

 

 

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Citywire 20: Investec's du Toit on managing the 'jerk factor'

Citywire 20: Investec's du Toit on managing the 'jerk factor'

Investec boss Hendrik du Toit believes he has become far more decisive over the last 20 years, especially when it comes to managing 'jerk' factor.

Play Citywire 20: Hugh Young's bleak lesson

Citywire 20: Hugh Young's bleak lesson

In the latest video to mark Citywire's 20th birthday, Aberdeen Standard Investments Asia head reminisces about one of the toughest periods in his career.

Play IWD 2019 video: fund and wealth figures define diversity

IWD 2019 video: fund and wealth figures define diversity

To mark International Women's Day, we have spoken to a variety of top fund houses and wealth managers about their definition of diversity, and how they hope to achieve a more inclusive workplace.

Read More
Wealth Manager on Twitter