Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing Weekly

Opalesque Roundup: Will more hedge funds follow Coatue's lead into early stage venture? Hedge fund news, week 29

Sunday, August 04, 2019

In the week ending August 2nd 2019, reports said hedge fund Coatue launched a $700m venture fund that will focus on early-stage investments. The New York-based firm submitted a filing for the vehicle with the SEC in November.

Set up as a technology sector hedge fund by Philippe Laffont after leaving Tiger Management in 1999, Coatue has been investing in public and private equity markets and already backs a number of high-profile unicorns, including DoorDash, Instacart and Lime. However, the goal to invest $700m in early-stage tech is viewed as a major extension of its investment focus, and it will be interesting to see if more traditional hedge funds will follow suit and shift focus to the more illiquid, private markets.

The biggest hedge fund startup so far this year is San Francisco-based Woodline Partners with $2 billion in investor commitments and former Citadel traders Michael Rockefeller and Karl Kroeker at the helm.

Further in new launches, Maarten Petermann, who spent nearly two decades at JPMorgan Chase & Co., is preparing to start a hedge fund with at least $500 million of assets; Private-equity investor Welsh Carson Anderson & Stowe has closed the largest fund in its four-decade history, collecting $4.3bn for its flagship investment vehicle, and LGPS Central, the pooling vehicle for nine local authority pension funds in central England, has raised £700m ($864m) from four of its partner funds for an emerging market equities mandate.

Meanwhile, BlackRock, the world's largest asset management firm, announced that it has raised $2bn for its flagship opportunistic credit fund, Global Credit Opportunities (GCO); Advent International, a U.S. private equity firm with $36 billion in assets under managem......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1