Ex-Coatue Trader’s SPAC Shorts Fuel 22% Gain for Tech Hedge Fund
- Firm generated gains without betting on Nvidia or Meta
- Former SPAC stocks have slumped in the past couple of years
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Sylebra Capital, a tech-focused hedge fund founded by ex-Coatue Management partner Daniel Gibson, returned 22% for its main strategy this year, with roughly half of the gain coming from short wagers.
The firm generated those gains without owning chipmaker Nvidia Corp., Facebook parent Meta Platforms Inc. or any of the other tech giants favored by hedge funds, according to a client presentation.