Hedge Funds

Wolf's Kentucky Derby gambit

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This year's Kentucky Derby looked a bit like a hedge fund convention. Jack Wolf, who once ran Columbus Partners of Atlanta, has an ownership share in the thoroughbred Monba, a 4-to-1 handicap in a field of 20 horses. As it turns out, Monba, who is co-owned by Paul Saylor of CS Capital, was beaten in the derby by Triple-Crown hopeful Big Brown. Adding insult to injury for Monba's backers, Big Brown's owners said after the win that they want to use their business, International Equine Acquisition Holdings, to create a hedge fund for the racing industry.