Meet the hedge fund that just took Goldman Sachs’ top tech banker
Coatue Management: This is the hedge fund that just wooed Goldman Sachs’ star technology banker Anthony Noto. The New York-based fund may not be as well known as, say, John Paulson’s eponymous Paulson & Co, but it’s a known quantity in Silicon Valley circles. Here’s what you need to know about Noto’s new employer.
Coatue Management: This is the hedge fund that just wooed Goldman Sachs $GS’ star technology banker Anthony Noto. The New York-based fund may not be as well known as, say, John Paulson’s eponymous Paulson & Co, but it’s a known quantity in Silicon Valley circles. Here’s what you need to know about Noto’s new employer.
Coatue was founded in 1999 by Philippe Laffont.
It’s believed that the hedge fund derives its name–Coatue–from one of Laffont’s choice vacation spots in Nantucket, Massachusetts.
Laffont is considered a protege of famous Tiger Management luminary Julian Robertson. Robertson’s proteges have been come to be known in finance as ”.”
Daily Brief
The essential business news, delivered fresh every morning.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Coatue is characterized as a long/short, tech-focused hedge fund. That means the fund makes both “long” investments in companies with the expectation that they’ll perform well, and short bets, or investments that reflect a bearish outlook.
Coatue manages around $7 billon and recently opened an office in Menlo Park, California to be closer to some of its Silicon Valley targets. That move, along with the hiring of Noto, is a clear sign that Coatue plans on getting even more entrenched in the technology sector.
Coatue also has made a number of investments in more established technology companies like Facebook $META and Amazon $AMZN, according to Insider Monkey.
Reports indicate Coatue’s performance has suffered in light of a recent downturn in tech stocks. The turmoil in tech has resulted in Laffont returning some $2 billion in capital to investors, CNBC reported last month.
