May Proving to Be a Tough Month for Tiger Cubs

Following a "disappointing" first-quarter, an investor in Andreas Halvorsen's Viking Global Investors tells us the firm's main fund is down 5 percent for the month. It appears the departure David Ott, Viking's co-founder and CIO, is not helping matters.

We've also been told that Shumway Capital Partners, another Tiger Cub that recently sold a stake to Goldman Sachs, is down 2.5 percent this month. Obviously, the markets have been in free fall so the downturn could be hitting funds across the board. Meanwhile, Elliot Associates, the distressed debt firm run by Paul Singer, was up 4.9 percent for the first-quarter, according to its latest investor letter.