Hedge Funds

Kovner eyes Santa Barbara

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Caxton Associates' founder Bruce Kovner knows a good thing when he sees it. Entities owned by Kovner have gobbled up 12 adjoining acres of California's Santa Barbara County this year in three separate deals worth $70 million. The land grab took place just south of the city of Santa Barbara in the tiny coastal town of Carpinteria, which is best known for its surf breaks and avocado and flower farms. Kovner and company must have really liked the properties, which included a Tuscan-style farm house, because at least some of the land had not even been on the