Sam Harland, the Tiger Global Management partner behind the hedge fund’s bet on used-car dealer Carvana Co, has left the firm, according to a report by Bloomberg.
Harland also took a lead in Tiger Global’s bets on Instant Teams, a remote talent marketplace, hiring platform WizeHire, and sales staff networking platform Bravado.
Phoenix-based Carvana’s shares are down more than 90 per cent from their high in August, leaving Tiger Global and other hedge funds facing big losses.
The report cites a regulatory filing as revealing that Carvana was Tiger Global’s eight largest position by market value at the end of March this year and the failed bet has contributed to a poor year to date for the firm, with the firm reportedly down 52% at the end of May.
