Hedge Funds Performance

Coatue finds its TMT groove


Tiger cub Philippe Laffont is up 11.9% this year.

 Philippe Laffont
Sensing the potential for many winning trades in the technology, media and telecommunications sectors, former Tiger Management analyst Philippe Laffont closed his Coatue Management to new investors in January to focus on performance, not fundraising. The change was apparently worth it.

Coatue’s flagship long/short fund (onshore) has produced a net return of 11.9% for the year through August, according to investor materials. And even though the fund is closed, profits and inflows from existing investors have increased the firm’s assets under management to $3 billion as of September 15, from $2.6 billion on July 1.