Tiger Cubs Differences

Can someone elaborate on the difference between the most famous tiger cubs: Tiger, Coatue, Viking, Lone Pine (and any others worth mentioning / you have intel on)?

Mostly interested in difference in investment style, culture, interview process, types of qualities needed to succeed at either, any difference in their "edge", anything that differentiates them from the rest of the tiger cubs, why would an LP invest with Tiger vs Coatue, etc.?

I see from 13Fs that some are more heavily weighed towards info tech (Tiger), some are more diversified across healthcare, industrials (Viking), etc. but would love any additional insight / parallels you can draw across these funds.

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Comments (7)

Most Helpful
Oct 10, 2021 - 9:49pm

Definitely more similar than different, it seems, but here are some observations:

Tiger Global: heavy TMT focus, seems to be the most prolific (undisciplined?) in the venture area among the Tiger Cubs. 

Coatue: heavy TMT focus, seems to emphasize extensive, almost academic levels of research and has built significant capabilities in data science. Intense, cutthroat culture with high turnover. 

Viking: more 'traditional' L/S fund with different sector teams trying to capture intra-sector spread, although still TMT-skewed. Think they run higher gross and potentially could have shorter time horizons vs some of the other cubs. Fairly high turnover at the junior level (they seem to always be recruiting...) 

Lone Pine: TMT-skewed (not surprising), but does a fair amount in Consumer as well (given Mandel's background as Tiger's consumer analyst, although he has taken a back-seat in recent years, I believe). Seems to have much lower turnover at the junior level versus Coatue/Viking (they rarely recruit). 

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Oct 17, 2021 - 9:01pm

Also worth mentioning both Viking and Coatue have burgeoning VC/GE arms (Viking just led the $180M Series C for AlphaSense). Run separately from the HF but definitely highlights a tech focus.

Oct 18, 2021 - 2:28pm

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