Coatue preps private equity fund

By Lawrence Delevingne

Fri Oct 19, 2012



Up big on tech bets, Philippe Laffont's firm will also wager more of the main fund's money on non-public companies.


Thomas Laffont (Photo: LinkedIn)

Citing a changed technology investment environment, Philippe Laffont's $6.2 billion Coatue Management is preparing to launch a dedicated private equity fund to invest in technology companies, while also increasing his flagship fund's allocations to the sector.

The new Coatue Private Fund will launch January 1 with an estimated $250 million, according to a letter sent to investors October 15. The main Coatue Qualified Partners Fund will also increase its limit on allocations to private companies from 5% to 10% starting in January 2014. The flagship fund had not made investments in private companies despite having had the option to do so, according to the investor communication.

"Our decision to invest in private companies is not really a departure but rather a reflection that the technology investing landscape...

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