clock menu more-arrow no yes mobile

Filed under:

Tiger Cub Coatue to Return $2 Billion to Investors Amid Volatility

Hedge fund Coatue Management plans to return more than $2 billion in capital to investors in its flagship fund on June 30 after extreme volatility in technology stocks led to a nine percent loss in March.

“We are focused on returns and do not want to become asset gatherers,” Coatue founder Philippe Laffont wrote in an April 4 investor letter reviewed by CNBC. He added that the flagship fund’s assets had grown from $1 billion to more than $7 billion in the past six years. “We believe the right size for Flagship is $5 billion,” he wrote.

Read the rest of this post on the original site »

This article originally appeared on Recode.net.

Sign up for the newsletter Sign up for Vox Recommends

Get curated picks of the best Vox journalism to read, watch, and listen to every week, from our editors.