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