Photographer: Tiffany Hagler-Geard / Bloomberg
Photographer: Tiffany Hagler-Geard / Bloomberg
At least one equity hedge fund has managed to cope this week Storm GameStop Corp.
Coatue Management’s performance is almost clear so far this year, according to people familiar with the issue.
The company records losses as capital titans, inclusive D1 Capital Partners and Melvin Capital Management suffered double-digit declines, shortening the actions of the video game retailer. Other colleagues were dragged down by the resulting market havoc.
Coatue has partially avoided the riot because the firm does not borrow nearly as much money as Melvin Capital and its short portfolio is smaller, people said. Philippe Laffont’s fund was in cash recently, and his small bets on private companies have amortized the fund from equity losses.
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A company spokesman declined to comment.
The Coatue hedge fund gained about 64 percent last year, one man said.
– With the assistance of Bei Hu