Tiger Cub Phillipe Laffont’s Coatue Management invested $50 million in Snapchat, the photo messaging application company founded by two Stanford University students who last month spurned a $3 billion acquisition offer from Facebook. Snapchat disclosed it raised the $50 million in a regulatory filing but did not identify the investor. Coatue is known for its successful, aggressive investments in Internet and technology companies.
—
Kenneth Griffin’s main multi-strategy funds, Kensington and Wellington, were roughly flat in November, temporarily halting their bid for a third consecutive yearly gain of at least 20 percent. They are now up about 17 percent with one month to go.
—
Moore Capital Management’s Louis Bacon has agreed to buy New Mexico’s Taos Ski Valley, according to ABC News. Taos Ski Valley chief executive Mickey Blake reportedly said the hedge fund manager will invest much-needed funds for renovation, adding that Bacon “shares our vision for the future of Taos Ski Valley.”
—
Alan Howard’s Brevan Howard Capital Management has hired Vincent Craignou as a senior currencies specialist, according to the Wall Street Journal. Craignou had closed down his foreign exchange-focused fund several months ago amid huge investor redemptions. The paper stresses that Brevan Howard, a London-based multi-strategy hedge fund firm, has not plans to revive a currency fund after recently shutting down its Brevan Howard Investment Fund II Macro FX Fund. Its BH Macro fund is up just 2.03 percent (U.S. dollar shares) this year, through December 6.