Coatue Hires Blackstone Veteran Peter Wallace as Co-President

Peter Wallace, a Blackstone Inc. veteran of almost three decades, is joining Coatue Management as co-president and head of private investments.

After a period of garden leave, he’ll start alongside Carlyle Group Inc. alumnus Nathan Urquhart, who will become co-president and head of strategy, a newly created role, Coatue co-founder Philippe Laffont wrote in an investor letter seen by Bloomberg.

Wallace, who will join the firm’s executive committee, will focus on Coatue’s private investments, according to the letter, including overseeing day-to-day operations of its tactical solutions business, which often makes investments that fall between equity and debt. ...