Dinakar Singh's TPG-Axon Capital Buys More Zhongpin (HOGS) ~ market folly

Friday, September 24, 2010

Dinakar Singh's TPG-Axon Capital Buys More Zhongpin (HOGS)

Dinakar Singh's hedge fund firm TPG-Axon Capital Management recently filed a 13G with the SEC regarding shares of Zhongpin (HOGS). Per the filing, TPG-Axon has disclosed a 5.18% ownership stake in HOGS with 1,800,000 shares. Due to portfolio activity on September 21st, this marks a 484% increase in their position size as Singh's firm only owned 307,845 shares back on June 30th.

A former partner at Goldman Sachs, Dinakar Singh founded TPG-Axon in 2004 in partnership with the private equity firm Texas Pacific Group, launching with $5 billion. The firm has offices in New York, Hong Kong, Tokyo and managed $13 billion as of 2008. Prior to founding his firm, Singh was co-head of the Principal Strategies group at Goldman Sachs.

Taken from Google Finance, Zhongpin is "is principally engaged in the meat and food processing and distribution business in the People’s Republic of China (the PRC). At December 31, 2009, the Company’s product line included 358 meat products, including chilled pork, frozen pork and prepared meats, and 34 vegetable and fruit products, that are sold on a wholesale basis and on a retail basis through an exclusive network of showcase stores, network stores and supermarket counters."

For more on the latest hedge fund movements, head to our constant coverage of SEC filings.

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