Scott Shleifer steps down as head of private equity at Tiger Global

• In a letter to investors that was obtained by Axios, Coleman said the move was partially born of Tiger's desire to keep its team working together in New York, whereas Shleifer has relocated to Florida.
• This comes four years after Lee Fixel, who launched Tiger's private equity business with Shleifer, left to form his own firm called Addition.

Behind the scenes: Tiger is in the midst of raising $6 billion for a new private fund, and a source says that Shleifer's transition will not trigger a so-called "keyman" provision that would require investors to approve a continuation of its investment period.

• The firm's private portfolio includes such companies as Stripe, Shein, and TikTok owner ByteDance.
• Like many other late-stage private investors, Tiger has been hit with a series of valuation declines. One result is that it's spent the past couple of years also investing in earlier-stage startups.

News of was Shleifer's move, which is effective at year-end, was first reported by The Information.