Luxor Capital Group Initiates 5.7% Stake in Northstar Realty Finance Corp. (NRF)

Christian Leone’s fund, Luxor Capital Group revealed, in a new filing with the SEC, adding Northstar Realty Finance Corp. (NYSE:NRF) to its equity portfolio. Luxor currently holds close to 16.40 million shares of the company, the stake being passive by nature. The position amasses 5.7% of the company’s common stock.

Christian Leone

Northstar Realty Finance Corp. (NYSE:NRF) last month conducted an underwritten public offering of 50 million shares of common stock at price of $11.65 per share on December 12, according to a statement.The gross proceeds will be used to fund a part of the purchase price for the acquisition of approximately $400 million portfolio of manufactured housing communities and for other general purposes.

NorthStar Realty Finance Corp. (NYSE:NRF) reported, on December 23, the closing of a $340 million strategic investment in RXR Realty.  The Investment offers NorthStar approximately 30% ownership interest in RXR.

Brookside Capital, managed by Bain Capital, owns the largest number of shares in NorthStar Realty Finance Corp. (NYSE:NRF); it holds 10.41 million shares for a total worth of $96.65 million. Robert Pohly’s Samlyn Capital holds 6.42 million shares worth $59.58 million 28% of which the fund has amassed in the third quarter of 2013. Alyeska Investment Group, managed by Anand Parekh, has a stake of 5.66 million shares, worth $52.53 million in the company representing 2.19% of its equity portfolio.

Christian Leone’s fund, Luxor Capital Group has a relatively balanced structure, and holds equity and fixed income investments across the world.

Earlier, Luxor Capital Group had increased its position in Altisource Asset Management Corp (NYSEMKT:AAMC) to 128,290 shares from 62,143 shares. Earlier in November the fund boosted its exposure to Hemisphere Media Group Inc (NASDAQ:HMTV). Luxor increased the amount of class A shares it holds to 1.47 million, and its stake in common stock shares to 4.55 million, from 2.34 million. The fund currently owns 37.7% of Hemisphere’s common stock.

The largest position in Luxor’s equity portfolio is represented by The Madison Square Garden Co. (NASDAQ:MSG), the fund added the position in the third quarter of 2013, and holds 5.75 million shares, worth $334.17 million.

Disclosure: none

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