Eliav Assouline's Hedge Fund Axial Capital Management Adds to a Position ~ market folly

Friday, April 16, 2010

Eliav Assouline's Hedge Fund Axial Capital Management Adds to a Position

This is the first time we've covered Eliav Assouline and Marc Andersen's hedge fund Axial Capital Management so we'll cover some brief background before diving into the latest portfolio update. Assouline founded the fund in 2005 and is known as a 'Tiger Seed' because Axial was seeded by legendary hedge fund manager Julian Robertson. Axial offices along with other Tiger Seeds at the historic 101 Park Avenue address and joins the proverbial Tiger Management family tree.

Now, turning to the latest portfolio activity out of Axial, we see that they have filed a 13G with the SEC in regards to shares of Macquarie Infrastructure Company (MIC). The filing was made due to activity on April 5th, 2010 and they now own 5.03% of the company (MIC) with 2,283,210 shares. This is an increase in their position as they previously owned 1,428,734 shares on December 31st, 2009. This means that Axial boosted their stake by 59.8%, adding 854,476 more shares over the past four months.

Year to date for 2010, shares of Macquarie are up over 31%. Also, we see that another Tiger Seed hedge fund has a large stake in shares of MIC: Manish Chopra's Tiger Veda Management. Taken from Google Finance, Macquarie Infrastructure Company LLC (MIC) "owns, operates and invests in a diversified group of infrastructure businesses in the United States. The Company operates in two segments: the Energy-Related Businesses and the Aviation-Related Business."

To see what other top investment managers are up to, head to our latest hedge fund portfolio tracking.

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