Tiger Cub Coatue Raises $540M For Second PE Fund

Oct 13 2015 | 3:54pm ET

Hedge fund Coatue Management has raised more than $540 million for its second private equity fund. 

The company launched its Private Fund II, which will reportedly concentrate on growth- and late-stage investments in the telecommunications, media and technology sectors, in January with a target of $750 million, according to securities filings.

Disclosures filed by the company earlier this week reveal Coatue raised $406.6 million from 175 investors, with the higher asset number coming a person familiar with the fundraising effort and cited by PEHub.

In the filings, Coatue names Park Hill Group, J.P. Morgan Securities and Credit Suisse Securities (USA) as firms working on the fundraising.

Coatue launched its first fund in 2013, raising $300 million. Although a long/short equity hedge fund, the company has developed a specialty in latter-stage venture and private-equity-like investing, backing such companies as Snapchat, Box, Avvo, Lyft and HotelTonight in funding rounds. 

Founded in 1999 by former Tiger Management executive Philippe Laffont, New York-based Coatue manages approximately $9.4 billion of client net assets on a discretionary basis.

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