Tiger Global Hedge Fund Discloses Large Stake In Recent LinkedIn (LNKD) IPO

Late last Friday, Charles Coleman III's Tiger Global hedge fund disclosed owning a large stake in recent IPO, LinkedIn (NYSE: LNKD), which the fund had an investment prior to the market debut.

The funds held an aggregate of 4,042,928 shares, represented by 300,000 Class A Common Shares and 3,742,928 Class B Common Shares, which may be converted into 3,742,928 Class A Common Shares.

A background disclosure of the stake shows the hedge fund has been involved in the stock since December 2009:

• PIP V acquired shares of preferred and common stock of the Issuer (which were later exchanged for Class B Common Shares) in a number of secondary transactions, from December 21, 2009 to August 10, 2010, (the “PIP V Secondary Transactions”) pursuant to which PIP V purchased 2,436,001 shares of preferred and common stock of the Issuer (which were later exchanged for 2,436,001 Class B Common Shares) for an aggregate amount of $31,740,600.70.
  
  
• LinkedIn Holdings acquired shares of common stock of the Issuer (which were later exchanged for Class B Common Shares) in a number of secondary transactions, from August 10, 2010 to April 15, 2011, (the “LinkedIn Holdings Secondary Transactions”) pursuant to which LinkedIn Holdings purchased 1,306,927 shares of common stock of the Issuer (which were later exchanged for 1,306,927 Class B Common Shares) for an aggregate amount of $29,796,007.50.
  
  
• On May 24, 2011, in connection with the Issuer's initial public offering, the Tiger Funds purchased 300,000 Class A Common Shares, for a purchase price of $45.00 per Class A Common Share or $13,500,000 in the aggregate.

If the Class B shares are fully converted into Class A Common Shares, Tiger Global fully diluted ownership in LinkedIn would be 4.2%.

The fund has entered a lock-up agreement and has agreed that it will not offer or sell for a period of 180 days after the date of the public offering.

Following its IPO, LinkedIn shot up to over $120 per share, and has since settled at $77.92 as of last Friday. The IPO initially priced at $45 per share.

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