Asbury Automotive Group Inc. (ABG): MSD Capital’s Joel Alsfine Appointed To Board

Page 2 of 2

Another Director elected on January 7, Scott Thompson, added: “I am thrilled to join the Asbury Board and look forward to applying my more than twenty years of automotive and specialty retailer experience to make meaningful contributions as a Director. Asbury is known in the industry for its record of growth and improving operating performance.  I am excited about the Company’s future prospects.”

On top of MSD Capital, other major institutional investors are betting on Asbury Automotive Group, Inc. (NYSE:ABG). Stephen V. Raneri’s Lioneye Capital Management seems particularly bullish; the fund boosted its exposure to the company by 61% over the third quarter of 2014, to 1.63 million shares, worth over $100 million, and continued to add shares to its equity portfolio over the fourth quarter. On late-October, Lioneye Capital disclosed ownership of 2.15 million shares (the position also includes 330,000 shares underlying ‘Call’ options), which make it the second-largest institutional investor of record, surpassing FMR LLC, which held 2.1 million shares by the end of the third quarter, but then trimmed its wage on the company to 1.15 million shares.

Also confident on Asbury is Brian Jackelow, of SAB Capital Management. On October 23, the fund disclosed a new position in the company, with 1.68 million shares, which represent 5.7% of its Common Stock.
MSD Capital is also betting on Esterline Technologies Corporation (NYSE:ESL), a $3.45 billion market cap manufacturing company serving aerospace and defense customers of which the fund acquired 1.62 million shares in late-December. It now stands amongst the largest institutional investors in the company.

Disclosure: none


Page 2 of 2