By Helen Coster and Greg Bensinger
(Reuters) -Investment firm Tiger Global Management LLC, known for its early bets on tech firms like Meta and Spotify, on Friday told limited partners it has been the target of a series of misinformation attacks by a former employee, according to a letter seen by Reuters.
The firm was responding to a document, allegedly a draft article by The New Yorker magazine, making the rounds in recent months with damning allegations about the investment firm.
A spokesperson for the New Yorker denied any involvement.
On Friday, Tiger Global said it had reached out to its investment partners about the document which has been seen by venture capitalists, hedge funds and in media circles. The firm said the nine-page document, which discusses the firm’s investing strategy as well as alleged personal improprieties, was written by a recently terminated employee.
“These attacks are packed with lies, which we strongly believe were written and pushed by a disgruntled former employee with whom we parted ways,” Tiger Global said in its letter to investors. ”We are saddened that you, our clients, have been subjected to this as well.”
Tiger Global's letter concerned a document that begins with a paragraph saying it was written for The New Yorker magazine. A spokeswoman for the publication denied any involvement.
It was unclear how far the document has spread, but the Tiger Global letter said the firm has been aware of it for several months. Reporters for Reuters received a version of it earlier this month.
Tiger Global has roughly $50 billion of assets under management, but saw its portfolio significantly trimmed last year as tech stocks faltered.
(Reporting by Helen Coster and Greg Bensinger; editing by Kenneth Li and David Gregorio)
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