U.S. hedge fund Tiger Global Management has invested more than $1 billion in British lender Barclays Plc.
Tiger Global Management is also extending a vote of confidence in Barclays Chief Executive Jes Staley's plans to strip back the bank to concentrate on its U.S.-led investment banking operations and its British-based consumer banking business.
Barclays has championed investment banking amid calls from some analysts and investors to ditch a business which has in recent years struggled to match the profitability of the lender's more mundane retail and credit card units.
The hedge fund had bought most of its roughly 2.5 percent stake in Barclays in November..