Lee Ainslie, the billionaire founder of Maverick, told investors last month he wanted to take advantage of the volatility. His fund fell 11.7% in March.
Stephen Mandel's fund told investors that "structural changes in the economy" from technology make a bounceback for value stocks unlikely.
The firm is valued at $3.5 billion after a funding round from investors including BlackRock. "We're likely to go public at some point," the CFO says.