Lee Fixel, Flipkart’s former godfather, resigns from Tiger Global Management

New York/San Francisco: Lee Fixel, head of Tiger Global Management’s private equity business, is leaving the firm after more than a decade to manage his own money. Fixel, who’s a partner at the $26 billion firm, will depart on 30 June, Tiger Global said in an email to investors seen by Bloomberg. Scott Shleifer will take over as head of the unit. Fixel, 39, may start his own investment firm, according to the email.

Fixel led the $13 billion unit through deals that made billions of dollars in profit for the New York-based firm. Tiger Global’s early investment in Flipkart, in 2009, eventually reaped about $3 billion after Walmart Inc. bought a majority stake in Flipkart last year. That return on investment, in dollar terms, was one of the largest for the unit at the time, Bloomberg previously reported. Fixel is also on the board of Flipkart.