Tag-teams aren't always bad

Wed Sep 1, 2004

If you were ever wondering how informal investment alliances between hedge funds can coalesce around great market ideas, it's worth considering the case of the tag-team investors in General Physics Strategies. After a rough ride over the last two years, the White Plains, New York -based company has mounted a remarkable market turnaround, seeing its share price double to about $7. But that likely wouldn't have been the case if it weren't for the investment acumen of the teams behind Bruce Kovner and Art Samberg.

It turns out that its largest shareholders is a veritable tag-team of hedge fund investors. In fact, based on the most recent firm filings with the U.S. Securities and Exchange Commission the company's largest investors include Caxton (7.7%) and Pequot Capital (5.0%).

The hedge funds entered a de facto investment alliance just as General Physics Strategies was preparing...

ISSN: 2151-1845 / CDC10004H

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