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Chase Coleman III

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American hedge fund manager
Chase Coleman III
BornCharles Payson Coleman III
(1975-06-01) June 1, 1975 (age 49)
NationalityAmerican
Alma materWilliams College
OccupationHedge fund manager
TitleFounder, Tiger Global Management
Spouse Stephanie Ercklentz ​(m. 2005)​
Children4

Charles Payson "Chase" Coleman III (born June 1, 1975) is an American billionaire hedge fund manager, and the founder of Tiger Global Management. As of July 2023, his net worth is estimated at US$8.5 billion by Forbes making him the 258th richest person in the world.

Early life and education

Coleman grew up in Glen Head, Long Island. His father, C. Payson Coleman Jr., born in 1950, is a partner at the New York law firm Pillsbury Winthrop Shaw Pittman, and his mother, Kim Coleman, owns an interior design firm.

His grandfather, Charles Payson Coleman, who was managing partner of the New York law firm Davis Polk & Wardwell until his death in 1982, was married to Mimi C. Thompson (née Louise Stuyvesant Wainwright), a descendant of Peter Stuyvesant, the last Dutch Governor who surrendered New Amsterdam to the British.

Coleman followed his father to both Deerfield Academy and Williams College, where he graduated in 1997, and was co-captain of the lacrosse team.

Investment career

Coleman started his career in 1997, working for Julian Robertson and the latter's hedge fund, Tiger Management. He had grown up with Robertson's son, Spencer, who lived close to Glen Head, in Locust Valley. In 2000, Robertson closed his fund, and entrusted Coleman with over $25 million to manage, making him one of the 30 or more so-called "Tiger Cubs", fund managers who started their fund management careers with Tiger Management. “I’ve known Chase since he was a young boy on Long Island and a good friend of my son Spencer,” Robertson said.

Coleman serves as partner of the investment firm he founded, Tiger Global Management. The hedge fund was an early investor in both Facebook and LinkedIn.

On the Forbes 2019 list of the world's billionaires, he was ranked #458 with a net worth of US$4.5 billion. According to Business Insider, he was born into "old money" and has made a lot of "new money" as well. According to Institutional Investor, he made an estimated $2.5 billion in 2020.

Political contributions

In 2012 Coleman donated US$31,000 to the National Republican Senatorial Committee and US$5,000 to Mitt Romney's presidential campaign. He has also donated to Democratic candidates, including $10,000 to New York Governor Andrew Cuomo, $4,950 to Manhattan Borough President Scott Stringer, and $2,700 to New York Senator Charles Schumer.

Personal life

Coleman married Stephanie Ercklentz, the daughter of lawyer Enno Ercklentz Jr. and Mai Harrison and step-daughter of Ridgely W. Harrison Jr., at Bethesda-by-the-Sea, Palm Beach, Florida, in 2005. She is a Wellesley College graduate who worked in investment banking for Merrill Lynch and Marketing and PR for Anne Klein and Vera Wang. Ercklentz was featured in the film Born Rich, a 2003 documentary about growing up in the world's richest families. Her mother, Mai Harrison (née Vilms), is the grand-niece of Jüri Vilms, a member of the Estonian Salvation Committee and leader of the Estonian Independence Movement.

The couple resides in New York City with their 4 children. In 2007, they bought an estate on Meadow Lane in Southampton for $32.5 million. In 2008, they bought the entire sixth floor of a Fifth Avenue building at 66th Street from Veronica Hearst, the daughter-in-law of William Randolph Hearst, for US$36.5 million. In 2016, the Colemans bought the fifth floor for $52 million and infamously allowed party guests to graffiti its walls in 2018 before demolishing its interior to combine it with their existing home. They also own properties in Palm Beach, Florida.

References

  1. Melby, Caleb. "Meet The 20 Newcomers To The Forbes 400". forbes.com. Archived from the original on October 18, 2016. Retrieved October 15, 2016.
  2. de la Merced, Michael (May 19, 2015). "Tiger Global to Revamp Management". The New York Times. Archived from the original on April 9, 2016. Retrieved October 15, 2016.
  3. "Forbes profile: Chase Coleman, III". Forbes. Retrieved 8 October 2021.
  4. ^ Effinger, Anthony; Burton, Katherine; Levy, Ari (January 10, 2012). "Top Hedge Fund Returns 45% With Robertson's 36-Year-Old Disciple". Bloomberg Business. Archived from the original on January 21, 2016. Retrieved January 4, 2016.
  5. David Marcus; Marie T. Finn; Marie T. Hough; Linda D. Estelle; Mindy Toomay; Nancy L. Jellison; Diana L. Richardson; Jeanie J. Clapp; Bernadette B. Grabb (1986). The American Bar, the Canadian Bar, the International Bar. R.B. Forster & Associates. p. 2198. ISBN 9780931398124. Retrieved September 8, 2015.
  6. "Tiger Global's Chase Coleman: With This Reclusive Billionaire, Actions Speak Louder Than Words". Ibillionaire.me. June 2, 2014. Archived from the original on 2015-09-20. Retrieved September 7, 2015.
  7. ^ "Hot & Cold". Newyorksocialdiary. January 25, 2005. Archived from the original on August 11, 2015. Retrieved September 8, 2015.
  8. Saxon, Wolfgang (October 15, 1996). "Mimi C. Thompson, 69, New York Volunteer and Philanthropist". The New York Times. Archived from the original on September 28, 2015. Retrieved September 15, 2015.
  9. Effinger, Anthony; Burton, Katherine (January 9, 2015). "Why Photos of Some Hedge-Fund Managers Are So Hard to Find". Bloomberg Business. Archived from the original on October 1, 2015. Retrieved September 26, 2015.
  10. Parmar, Hema; Karsh, Melissa; Alexander, Sophie (June 27, 2019). "Charmed Life". Bloomberg. Archived from the original on August 21, 2019. Retrieved August 21, 2019.
  11. ^ "The World's Billionaires (2016 ranking): #722 Chase Coleman, III". Forbes. March 1, 2016. Archived from the original on January 3, 2017. Retrieved January 3, 2017.
  12. "Profile". 27 June 2019. Archived from the original on 2020-10-27.
  13. "Tiger Global Among Top Spotify Holders With $1.9 Billion Stake". Bloomberg.com. 3 April 2018. Archived from the original on 2018-05-06. Retrieved 2018-07-14.
  14. Wee, Gillian (23 January 2011). "Tiger Global Said to Put New Private-Equity Fund Into Facebook". Bloomberg.com. Archived from the original on 2017-11-26. Retrieved 2018-07-14.
  15. "Chase Coleman". Business Insider. Archived from the original on September 10, 2015. Retrieved September 15, 2015.
  16. Taub, Stephen (February 22, 2021). "The 20th Annual Rich List, the Definitive Ranking of What Hedge Fund Managers Earned in 2020". Institutional Investor. Retrieved March 3, 2021.
  17. "Obituaries". Columbia College Today. Winter 2014. Archived from the original on June 25, 2018. Retrieved August 9, 2020.
  18. "About". Valentines Farm. Retrieved 2021-07-14.
  19. ^ Pressler, Jessica (January 5, 2011). "Chase Coleman's Status Update: Rich". New York. Archived from the original on September 28, 2015. Retrieved September 15, 2015.
  20. "Mai A. Vilms Fiancee Of Enno Ercklentz Jr". The New York Times. Archived from the original on 2020-10-27. Retrieved 2020-08-09.
  21. "The Hamptons' Billionaire Lane, Mapped". 25 April 2016.
  22. "A Billionaire Lets Guests Vandalize His Upper East Side Apartment".
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