Our Firm
Altimeter Capital Management, LP (“Altimeter”), is a Delaware limited partnership, located
primarily in Menlo Park, California and Boston, Massachusetts, that was founded in October 2008
by Brad Gerstner. Altimeter is registered with the Securities and Exchange Commission (“SEC”)
as an investment adviser.
Altimeter provides investment advisory services on a discretionary basis to private investment
funds intended for sophisticated investors and institutional investors (each a “Fund”, and
collectively, the “Funds”). Each Fund is exempt from registration under the Investment Company
Act of 1940, as amended (the “1940 Act”), and no Fund securities are registered under the
Securities Act of 1933, as amended (the “Securities Act”). Brad Gerstner is Altimeter’s principal
owner and Chief Executive Officer. He also is principal owner and managing member of Altimeter
Capital Management General Partner LLC, a Delaware limited liability company, which serves as
the General Partner of Altimeter. Altimeter has also established affiliated entities to serve as
general partners of the Funds. As of December 31, 2023, Altimeter provides investment advice
with respect to a total of approximately $8,057,134,604 in regulatory assets under management,
all of which is managed on a discretionary basis.
Advisory Services, Investment Strategy, and Types of Investments
Altimeter’s clients include Funds that make investments in (i) Public Investments (as described
below), (ii) Private Investments (as described below), and (iii) both Public Investments and Private
Investments. Such clients include Funds primarily deploying strategies focused on: (i) long-
focused Public Investments (the “Long Opportunities Fund”), (ii) long/short Public Investments
(the “Hedge Fund”, collectively with the Long Opportunities Fund, the “Public Funds”), (iii)
multi-stage, venture-focused Private Investments (the “Venture Capital Funds”), and (iv) single
investment, venture-focused Private Investments (the “Co-Investment Funds”, collectively with
the Venture Capital Funds, the “Private Funds”). As described in the Fund’s respective governing
documents, the Public Funds are typically open-ended and are required to fully fund all
commitments at time of subscription, and the Private Funds are typically closed-ended and
contribute commitments over time. Additionally, the Hedge Fund may invest in Private
Investments in accordance with its governing documents. Altimeter expects to serve as investment
adviser to additional funds, clients, or strategies, as appropriate under the circumstances. The term
“Client” used in this Brochure refers to the Funds collectively and any other clients managed by
Altimeter as of the date of this Brochure.
For all Funds, Altimeter identifies investment opportunities, and acquires, manages, monitors, and
disposes of investments on a discretionary basis. Altimeter’s investment-advisory activity focuses
primarily
on advising the Funds about U.S. and Non-U.S. Public Investments and Private
Investments in companies that Altimeter believes may offer opportunities to realize substantial
long-term appreciation. "Public Investments” include long or short transactions in publicly traded
equity and equity-related securities (such as equity swaps, options, and other derivatives;
purchased or written), and other securities and financial instruments (including, but not limited to,
corporate debt, bonds, notes or other debentures or debt participations, convertible securities,
private investments in public equity, futures contracts, commodities, and other derivative
instruments). “Private Investments” include transactions in securities and other financial
instruments in privately held companies, including but not limited to equities, notes, bonds,
debentures, and other business interests of every type, including interests in partnerships, joint
ventures, proprietorships, and other business entities. Altimeter may also offer invest in digital
assets, derivative instruments, options, commodities, currencies, and other asset classes not
necessarily included in the aforementioned. Altimeter’s investment approach largely concentrates
of certain sectors, including information technology, consumer discretionary, and communication
services. Within these sectors, Altimeter generally focuses on companies in the mobile internet,
fintech, software, cloud computing, machine learning, artificial intelligence, semiconductors,
disruptive transformation, and logistics and infrastructure (including, but not limited to, electric
vehicles and related technologies), among others. Altimeter has and expects to continue to invest
in companies outside these sectors, particularly in the context of short positions through the Hedge
Fund. As noted above, while the Hedge Fund focuses on Public Investments, it has and can invest
a portion of its assets in Private Investments.
While Altimeter has general portfolio management guidelines for each Fund, Altimeter maintains
broad and flexible investment authority, including the discretion to invest in various financial
instruments and securities. Please refer to each Fund’s governing documents for specific
information on what types of investments Altimeter can make on behalf of its Clients. It should
not be assumed that Altimeter’s investment activities are limited to what has been described in this
Brochure; it can offer additional advisory services, strategies, and investments that Altimeter
considers appropriate, subject to each Client’s investment objectives and guidelines.
Ability to Tailor Advisory Services
Altimeter does not tailor advisory services to individual investor needs. Instead, Altimeter
manages each Fund according to the stated investment strategy contained in that Fund’s offering
documents. Altimeter does not participate in any wrap-fee programs.