market folly

Chase Coleman's hedge fund firm Tiger Global Management has disclosed a new position in London listed BBA Aviation (LON:BBA).  Due to trading on July 9th and 11th, Tiger Global now holds 4.22% of BBA's voting rights.

BBA Aviation's stock price is up about 50% in 2013 and it looks as though Tiger Global acquired some of their stake at approximately 286p / share.

Per Google Finance, BBA Aviation plc "is a provider of aviation services and aftermarket support to operators of business and general aviation, military and commercial aircraft. The Company delivers its services at over 220 locations on five continents. The Company operates through two segments: Flight Support segment and Aftermarket Services segment. The Company’s Flight Support segment provides refueling, ground handling and other services to the business, general and commercial aviation markets. Its Aftermarket Services segment maintain, manufacture and support engines and aerospace components, sub-systems and systems. The Flight Support segment consists of Signature Flight Support and ASIG, and Aftermarket Services and Systems segment consists of Engine     Repair and Overhaul, Legacy Support and APPH. Its Flight Support has approximately 200 locations worldwide, and its Aftermarket Services has approximately 23 locations worldwide.”

For more on this hedge fund, we've detailed more of Tiger Global recent portfolio activity here.