Hedge fund firm Coatue is to withhold USD33 million from a total of USD250 million in client redemption requests, according to a report by Bloomberg.
The money being held back, which amounts to 13 per cent of the total requested, was invested in prove companies and will now be placed in a side-pocket by Coatue, the report says, quoting ‘people familiar with the matter’.
Coatue’s main fund, which has about 11 per cent of its USD15 billion in funds invested in private companies, is said to be down 11 per cent so far this year and 3 per cent in March.
