Coatue Management is preparing to launch a new AI and technology-focused fund, as the $70bn investment firm adapts its strategy to capture opportunities across both public and private markets, according to a report by Bloomberg.

The new vehicle will operate as a long-biased crossover fund, enabling Coatue to invest in listed companies and late-stage private businesses, while retaining the flexibility to sell positions and hold cash.

The move marks a shift away from the firm’s traditional long-only approach, with Coatue closing its $8bn long-only fund to new capital and redirecting investor demand toward the new strategy.

The fund is expected to allocate around 20% of its capital to private companies and could launch as early as mid-year, reflecting growing interest in hybrid investment models.

The strategy is designed to address structural changes in the technology sector, where high-growth companies are remaining private for longer and capturing significant value outside public markets.

Coatue’s pivot highlights broader trends across the investment landscape, with asset managers increasingly blending public and private strategies to access late-stage growth opportunities.

The firm manages approximately $70bn in assets and has expanded its presence in venture capital and growth equity, reinforcing its positioning within the global technology investment ecosystem.

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