Coatue Management Raises $3 Billion for Structured Equity Bets

Philippe Laffont’s Coatue Management raised about $3 billion for a structured equity fund that allows closely held companies to avoid raising money at lower valuations, a person with knowledge of the matter said.

The firm began discussing the tactical solutions fund with prospective investors in 2022, Bloomberg reported at the time. The vehicle began making bets that year, including leading a $150 million structured capital injection into TripActions, a travel and expense-management platform now known as Navan, and leading a $200 million structured equity investment in Komodo Health.

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