Altimeter Capital Management targets $3B for private markets funds

Brad Gerstner's firm is reportedly raising fresh capital to back late-stage, pre-IPO tech companies as AI keeps drawing private money Altimeter Capital Management is reportedly looking to raise $3 billion for its private markets funds. The money includes a new venture capital vehicle aimed at late-stage companies that have not yet gone public. Bloomberg reported the effort, citing securities filings and a person familiar with the matter. What Altimeter is raising, and why The new vehicle is built to back companies in the pre-IPO stage. These are businesses mature enough to have real revenue, but still private enough that public investors cannot buy in. According to the firm’s Form ADV filing with the SEC, dated March 31, 2026, Altimeter reported approximately $18.8 billion in regulatory assets under management. That same filing showed $18.0 billion in private fund gross assets. The filing also listed $9.6 billion in hedge fund gross assets and 33 private funds under management. Of those, 2 are hedge funds and 31 are venture capital funds. A fund-launching spree Altimeter has not exactly been pacing itself. Research based on its filings shows the firm launched 16 new venture capital...