TPG-Axon Capital Management
TPG-Axon Capital | Hedge Fund Notes
The following piece on TPG-Axon Capital is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.Resource #1 TPG-Axon Capital Management, LP (TAC) is a privately owned hedge fund sponsor. The firm provides its services to high net worth individuals, pension funds, and banking institutions. It manages limited partnerships for its clients. The firm invests in the public and private equity markets across the globe. It typically invests in healthcare, pharmaceuticals, financial services, technology, energy, and basic materials and retail. TPG-Axon Capital Management was founded in February 2005 and is based in New York, New York with additional offices in Hong Kong and Tokyo, Japan source
Resource #2 (7.25.08) In a 13G filing on today on Arch Coal (NYSE: ACI), TPG-Axon Capital disclosed a 5.2% stake in the coal company. The firm said it held 1,530,400 shares of Common Stock and options to purchase 6,000,000 shares of Common Stock. A 13F indicates a 'passive investment.' TPG-Axon Capital is a leading global investment firm with over $5.8 billion of capital invested in public and private markets around the world. TPG-Axon spun out of buyout firm Texas Pacific Group. Arch Coal, Inc. engages in the production and sale of steam and metallurgical coal from surface and underground mines to power plants, steel mills, and industrial facilities in the United States. source
Resource #3 (4.15.08) CV Therapeutics Announces $185 Million Transaction with TPG-Axon Capital for Half of Royalty for Lexiscan(TM) (regadenoson) Injection
PALO ALTO, Calif., April 15 /PRNewswire-FirstCall/ -- CV Therapeutics,
Inc. (Nasdaq: CVTX) announced today that TPG-Axon Capital has agreed to pay
CV Therapeutics up to $185 million in exchange for rights to 50 percent of
CV Therapeutics' royalty on North American sales of Lexiscan(TM) (regadenoson)
injection. CV Therapeutics received $175 million on closing of the transaction
and could receive a potential future milestone payment of $10 million.
The U.S. Food and Drug Administration (FDA) approved Lexiscan(TM)
(regadenoson) injection, an A2A adenosine receptor agonist, for use as a
pharmacologic stress agent in radionuclide myocardial perfusion imaging (MPI)
in patients unable to undergo adequate exercise stress, on April 10, 2008.
CV Therapeutics retains rights to the other 50 percent of royalty revenue
from North American sales of the product, and also may receive a royalty on
another Astellas product under the terms of the company's collaboration
agreement with Astellas Pharma US, Inc.
"With the funds from this non-dilutive financing and multiple
product-related revenue streams, we believe CV Therapeutics now has the funds
to become cash flow positive and meet the debt obligation which is putable in
2010, both without requiring capital market financing or partnership dollars,"
said Louis G. Lange, M.D., Ph.D., chairman and chief executive officer of
CV Therapeutics. "We are aggressively pursuing a partner to support Ranexa
commercialization and this additional financial independence provides
important leverage for managing both the balance sheet and our discussions
with potential partners." source
Resource #4: Dinakar Singh founded TPG- Axon Capital in late 2004, in partnership with private equity firm Texas Pacific Group - launching with $5 billion in capital.
TPG-Axon currently has some 75 researchers spread across the globe analyzing international markets. The fund participates in both public and structured private investments.
Singh, formerly a partner at Goldman Sachs, spent 14 years at the firm where he was co-head of the Principal Strategies department and spent four years based in Hong Kong.
Singh is a founder of the Spinal Muscular Atrophy Foundation and a member of the Trilateral Commission. source
Resource #5 (5.11.06) Alliance with TPG-Axon reinforces capabilities of NovaQuest, which has $1.5 billion committed to partnerships with pharma and biotech companies
RESEARCH TRIANGLE PARK, N.C., May 11 /PRNewswire/ -- Quintiles
Transnational Corp. today announced the launch of its expanded strategic
partnering group under the NovaQuest(TM) brand and, to further NovaQuest's
mission, an alliance with TPG-Axon Capital, a global investment firm with
over $5.8 billion in equity capital. NovaQuest helps life-science companies
realize greater value from their product portfolios through innovative
strategic partnering solutions.
TPG-Axon, led by the former head of Goldman Sachs' Principal Strategies
Department, Dinakar Singh, will be NovaQuest's first-line partner for
significant co-development and co-promotion investments. source
Resource #6 (7.28.05) ResMAE Financial Corporation, a wholesale specialty residential mortgage originator and servicer, today announced that TPG-Axon Capital, a leading global investment firm, has made a $100 million investment in ResMAE.
ResMAE began originating non-prime loans in the specialty mortgage sector in January 2003. The company was founded by M. Jack Mayesh, Ed Resendez and Bill Komperda, the former executive management team at Long Beach Financial Corporation (LBFC). This same executive team led LBFC through its initial public offering in 1997 and its subsequent sale to Washington Mutual in 1999. In October 2003, ResMAE received an equity investment from TH Lee Putnam Ventures.
ResMAE is HUD-approved, licensed or qualified to conduct business in 43 states and currently originates loans in over 25 states nationwide. The company has experienced rapid growth through a strategy that combines a complete Web-enabled technology platform, providing high quality customer service, with a traditional sales force to service the broker community with greater efficiency. This has proven successful in improving business processes and substantially lowering the cost of loan originations. In addition to expanding its national footprint, ResMAE intends to develop a portfolio of loans exceeding $1 billion. This will enhance the company's value by combining its traditional mortgage banking revenue with a diversified revenue stream based on interest income and servicing revenue. source
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