Coatue

interested as well

Their new structured equity fund looks interesting. Brilliant move launching that IMO.

BTW they are not nearly as down as Tiger etc as far as I know? Down but I dont think it's wiped their performance from the last year or two.

 Worth remembering performance in these slides is the hedge fund which is like 10% of AUM and doesn’t involve much privates which is where most of their problematic exposure is. Coatue is very levered to china and privates. They aren’t necessarily in a great position and wouldn’t tell if you if they weren’t 

for employment - coatue has a small and tight partnership structure. Has expanded somewhat in recent years with new funds in privates and clean tech. Analysts work very hard and culture is bad. Several people have left and started big funds and it is a great name and training. But only if you can take shit. 
 

the structured credit fund will be used to avoid too much markdown of the dogshit in their privates portfolio. 
 

 - market sells off/is selling off;

 - public/liquid holdings are (and have been) less important to firm strategy, now more than ever before;

 - forced seller, yes, but why care when a majority of your platform is private/illiquid, soon to be marked down following next quarter-end, and the positioning of said privates is soon also to require Coatue's issuance of LP capital calls;

 - additional liquidity now on the books, the existing credit facility(-ies) can be maintained/increased;

 - the firm can exist well enough, for long enough, to allow valuations to rebound, as no LP will exit the brand name via secondary, lest they wish to be declared excommunicado, any service or provider in connection with top decile investment managers becoming closed to them (until the CIO turns over); 

 - business continuity established, why not tap the product proliferation playbook and go to market/raise a credit fund to add to its waning public strategy on which the firm was founded, and its "early stage" venture fund, to take advantage of this "compelling market opportunity..." while also, "...strengthening the overall approach of the platform through cross-asset class expertise, each vertical complementing one another through enhanced data-driven insights and information sharing and a sharper competitive edge via our proprietary capabilities and unparalleled access to top founders globally."

Such a solid IT venture FoF. Love that VC beta exposure, AUM growth, and fee leakage. Exits from top brass? Always a good sign.

At least you can say you're in Coatue when travelling from annual meeting to annual meeting each Spring.

anyone can shed some light on comp (both US and London office)?

performance in the hedge fund has been pretty impressive given existing long exposure coming into 2022 (big positions in RIVN, MRNA, DASH, per 13F), IMO. Taking gross/net down to 20-30% range has helped. agree with an earlier poster that their issues are on the private side, they deployed a ton of capital in 2021 at valuations that don't make much sense today