Brian Taylor’s Pine River Capital disclosed its new position in SCG Financial Acquisition Corp (SCGQU) today. Pine River Capital now has 620 thousand shares in the stock, corresponding to a 6.5% passive stake ownership. The firm did not report its position in the stock before. Now SCG Financial Acquisition is trading at $9.85.
Pine River Capital was founded in early 2002 by Brian Taylor. Brian began his value trading experience in late 1980s and founded Pine River to pursue opportunities in global relative value trading. He had several former colleagues as his managers. In 2007, Pine River outgrew its headquarters and relocated to Minnetonka, Minnesota. The firm had research and trading offices in London, Hong Kong, San Francisco, New York, and Beijing.
According to Google Finance, SCG Financial Acquisition Corp. is “a development-stage company. The Company is a blank check company. The Company was formed for the purposed of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction, one or more operating businesses or assets. As of January 28, 2011, the Company had no operations. As of January 28, 2011, the Company had no revenues.”