London — Tiger Global Management has amassed a stake of about $1bn in Barclays, according to a person with knowledge of the hedge fund’s investment. The New York-based firm’s holding now amounts to about 2.5%, the person said, asking not to be identified as the investment had not been publicly disclosed. The purchase makes Tiger Global a top 10 investor in Barclays, the person said. It would be the seventh largest holder, according to data compiled by Bloomberg. A spokesman for Barclays declined to comment, while officials for Tiger Global in New York could not be reached outside regular business hours on Monday. The Financial Times reported Tiger Global’s investment earlier. Tiger Global, headed by former Julian Robertson protege Chase Coleman, bought some of its stake in Barclays when the bank’s shares slumped to a 52-week low of less than 180p in November, the person said. The investment comes amid Barclays CEO Jes Staley’s strategy to focus on the firm’s US-led investment bank a...
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