Real estate investor gets whacked on poor performance

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Hedge fund Wellington Management, which is the money 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. DocuSign also received a major investment from Wellington. Boston-based Wellington is a high-powered investment management company with clients in more than 65 countries and nearly $1 trillion under management. Some of its sizeable tech investments have been written down, but not necessarily anything from its real estate related portfolio. Over the last year, high-flying tech valuations have been brought down to earth. But real estate seems immune, publicly-traded Zillow is up more than 60 percent in the last year and private transactions like the sale of Commissions, Inc. show no softening in real estate tech valuatioins. Wellington has placed some big tech bets, like Uber and Airbnb, some of which have fallen...