Farallon Capital Management BP
Environmentalist Thomas Steyer's Farallon Capital Buys BP
It may seem odd that a well-known environmentalist's hedge fund would purchase 1.8 million shares of BP (BP), the oil company that was largely reviled for the oil spill off the Gulf Coast last year. But that's just what Thomas Steyer's hedge fund Farallon Capital Management did. Recent disclosures revealed that Farallon Capital Management purchased $1.8 million shares of the oil giant worth about $80 million as of June 30. Manager Thomas Steyer and his wife have donated millions to create a sustainable-energy research center at Stanford University.
Considering the Deepwater Horizon explosion last year, BP is an unusual investment for Steyer, who with his wife donated millions to a create a sustainable-energy center at Stanford University in 2008. Farallon bought 1.8 million shares of BP during the second quarter, which had a market value of nearly $80 million as of June 30, according to the fund's latest 13F filing with regulators.
Hedge funds that manage more than $100 million are required to disclose their equity holdings, options and convertible debt on a Form 13F filed to the Securities and Exchange Commission within 45 days of the end of a quarter. Funds aren't required to report short positions betting on declines. Farallon Capital ended the second quarter with 61 reported holdings with a market value of nearly $3.1 billion.
Farallon's other new buys in the second quarter included FedEx(FDX_), Expedia(EXPE_), Youku.com(YOKU_), and Tenet Healthcare(THC_). In total, the hedge fund reported 15 new holdings for the second quarter. Source
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