By Pete Gallo
If Superman, the "man of steel," were a real person, Dinakar
Singh's hedge fund team at TPG-Axon Capital would no doubt be
tracking him down in order to buy an option on his cape.
Not that TPG-Axon would need it. Singh's hedge fund is
already flying high this year, thanks to some supersize
investments in all things steel and in allied industrial
sectors, such as copper and zinc. In fact, nearly one in five
of TPG's current portfolio picks follow this theme, regulatory
Among the larger of these positions is a 6-million-share
stake in Reliance Steel & Aluminum, a Los Angeles outfit
that specializes in alloy production and steel processing
TPG-Axon owns 8.3% of the company's common stock, regulatory
filings show. And between January and mid-April, Reliance
shares rose from $45 to $62.