Coatue CTEK: One Ticket to Anthropic, OpenAI and the Private AI Stack — At What Price?

Podcast: Exponential Learning · The Team

Opublikowano: 2026-10-20

Coatue's CTEK is a tender-offer fund giving qualified clients one-ticket access to late-stage private tech — Anthropic (13.1% of NAV), OpenAI, Revolut, Databricks and Stripe — plus a public book anchored by Meta and TSMC, in a clean 1099 wrapper with no K-1s or capital calls. Class I is up 53.6% since the May 2025 inception, but much of that is unrealized private mark-ups from the great AI re-rating. The assessment: estimated all-in costs of 3.46% to 4.31% a year by share class, a 12.5% incentive fee charged on realized AND unrealized private value with no clawback, exits limited to discretionary quarterly tenders targeted at 5%, a 24% cash position drag...