Pine River Capital Management, managed by Brian Taylor, has initiated a new position in Fifth Street Asset Management Inc (NASDAQ:FSAM). A new filing with the U.S. Securities and Exchange revealed that Pine River Capital Management holds 809,100 Class A common stock shares of Fifth Street Asset Management Inc. (NASDAQ:FSAM). The stake is passive by nature, and equates to 13.5% of the company’s common stock outstanding.
Pine River Capital Management is founded by Brian Taylor in 2002. Taylor has an MBA from University of Chicago. He launched the fund with only $5.3 million, and it now has more than $4 billion in AUM. Pine River Capital Management is a credit hedge fund and pursues several strategies including global convertible bond arbitrage and equity driven event investing. The fund returned 91% in 2009.
Pine River Capital Management keeps its focus on technology, financial and healthcare stocks. The value of the fund’s equity portfolio totaled $8.5 billion at the end of the third quarter of 2014. The fund loves American Capital Ltd. (NASDAQ:ACAS), Verizon Communications Inc. (NYSE:VZ), Medtronic Inc. (NYSE:MDT), which are represented as its top three holdings for the third quarter. Pine River Capital Management was bullish on American Capital Ltd. (NASDAQ:ACAS), in which it upped its stake by more than 40% to 11.07 million shares. Verizon Communications Inc. (NYSE:VZ) was second most valuable holding, in which the fund disclosed ownership of 2.40 million shares. The fund added more Medtronic Inc. (NYSE:MDT) shares during the third quarter, holding 1.91 million shares, an increase of 21% from the previous quarter.