Assessing Dinakar Singh’s TPG-Axon Capital positions in 4Q13


Oct. 29 2019, Updated 6:25 p.m. ET

TPG-Axon Capital Management LP

TPG-Axon Capital Management LP (or TAC) is a privately owned $4 billion hedge fund firm founded by Dinakar Singh in February 2005 in partnership with private equity firm Texas Pacific Group. TPG-Axon Capital Management is based in New York, with additional offices in Hong Kong and Tokyo.

At the end of the fourth quarter, TPG-Axon had $2.5 billion in its equity portfolio, up from $1.59 billion in the third quarter. The fund’s notable positions traded last quarter include new stakes in Equinix Inc. (EQIX), Huntsman Corp. (HUN), Hertz Global Holdings Inc. (HTZ), and Spirit Aerosystems (SPR). The fund also sold its shares in Twenty-First Century Fox-A (FOXA) and CONSOL Energy Inc. (CNX).

TPG-Axon’s website states that the fund is a global investment firm focused on fundamental long/short investing across all geographies, primarily through equity securities. The activist hedge fund firm provides its services to high–net worth individuals, pension funds, and banking institutions.

Article continues below advertisement

The fund’s largest position last quarter was SandRidge Energy Inc. (SD), which sold its Gulf of Mexico assets in January to the PE-backed Fieldwood Energy for $750 million. SandRidge saw an activist push from TPG-Axon and Mount Kellett Capital Management last year, as the funds criticized SandRidge over its entry into offshore drilling. TPG had said the acquisition of the Gulf of Mexico assets in 2012 was “massively dilutive, and most importantly, strategically incoherent.” TPG-Axon was also instrumental in the replacement of SandRidge’s then-CEO, Tom Ward.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.