A $15bn New York investment group has used anonymous offshore companies to profit from some of the largest short-selling attacks in Europe over the past three years, including the unravelling of the UK’s Quindell.
A Financial Times investigation reveals that Tiger Global, which runs one of the world’s biggest hedge funds, has used Cayman Islands-based shell companies to make large bets against at least 12 European groups since 2012.
Tiger Global’s $6.5bn hedge fund is the mystery investor that used an entity called Roble SL to bet Quindell ’s share price would fall. The insurance claims processor, which is listed on Aim, London’s junior market, saw its share price collapse after being targeted in one of the highest-profile short-selling campaigns in UK history. This week Quindell’s chairman resigned and its share price fell to an all-time low.