TPG-Axon's bull of steel charges ahead

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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 filings show.

Among the larger of these positions is a 6-million-share stake in Reliance