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Have investors downgraded Compass and Redfin?

05/06/2017

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Hedge fund Wellington Management, which is behind two of the hottest and most controversial real estate brokerage startups — Compass and Redfin — is reportedly suffering from an overly aggressive tech investment strategy, according to a news report. Boston-based Wellington Management is a high-powered investment management company with clients in more than 65 countries and nearly $1 trillion in invested capital. But its tech fund has had to write down many of its investments, but not necessarily anything from its real estate tech portfolio. Resulting in potential losses for its investors, the firm has placed some big tech bets, like Uber and Airbnb, some of which have fallen in value and hurt Wellington’s balance sheet, according to a report in the Wall Street Journal this week. While the WSJ report did not mention write downs for Compass or Redfin, Wellington Management made significant investments in both companies, as well as in DocuSign. Compass, a New York-bas…

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