Tiger Global Raises TAL Education Stake

Tiger Global, TAL Education: Chase Coleman and Feroz Dewan’s hedge fund, Tiger Global Management just reported buying one million shares of TAL Education Group (ADR) (NYSE:XRS). In a filing with the SEC, the fund disclosed ownership of 12.3 million shares, equivalent to 18% of the company. At the current price of TAL Education’s stock, the value of Coleman and Dewan’s stake amounts to $172.2 million.

The shares owned by Tiger Global represent ownership of 6.15 million American Depositary Shares, which can be exchanged for Class A Common Shares at a 1:2 ratio, the fund said in its filing. The move comes over a month after Coleman’s previous purchase of shares of TAL Education. In a previous filing, Tiger Global disclosed ownership of 11.3 million shares of TAL Education (5.65 million American Depository Shares).

TAL Education is a company engaged in K-12 after-school tutoring in China and operates under the brand “Xueersi.” Aside from Chase Coleman and Feroz Dewan, we should mention some other “hedgies” bullish on the company, according to Insider Monkey’s database. As follows, they are: Robert Karr, the manager of Joho Capital, which owns 2.7 million shares, Jim Simons, manager of Renaissance Technologies with 260,600 shares, and Brian Taylor of Pine River Capital Management with 55,200 shares.

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Disclosure: none