Fifth Street Asset Management Inc (FSAM): Pine River Capital Management Discloses New Position

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

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.