PointState Capital Reveals Stake in iStar Financial (SFI)

On Friday, Zach Schreiber's hedge fund PointState Capital filed a 13G with the SEC regarding shares of iStar Financial (SFI).  Per the filing, PointState has revealed a brand new equity position in the company.

The hedge fund firm now owns a 6.5% stake in SFI with 5,492,500 shares and the filing was required due to portfolio activity on March 5th.

PointState was founded by former Duquesne Capital employees with seed capital from Stanley Druckenmiller after he wound down Duquesne as well as capital from other former investors in Duquesne.  We recently highlighted lessons from Druckenmiller, which has been a popular post.  Druckenmiller also gave a rare interview recently.

Per Google Finance, iStar Financial is "a fully integrated finance and investment company focused on the commercial real estate industry. The Company provides investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company is a real estate investment trust (REIT). The Company operates in three segments: lending, net leasing and real estate investment."

A few months ago, we also highlighted other portfolio activity from PointState.

Hedge Fund Bridger Management Boosts iStar Financial (SFI) Position

In a 13G filed with the SEC due to activity on May 20th, Roberto Mignone's hedge fund Bridger Management has disclosed an updated stake in iStar Financial (SFI). Per the filing, Bridger now shows a 5.6% ownership stake with 5,190,000 shares. This is a slight increase in their position because Mignone's hedge fund owned 4,690,000 as of March 31st when we detailed Bridger's portfolio. This means that over the past two months, they've added an additional 500,000 shares (a 10.66% boost in position size).

Mignone received his degree from Harvard and his MBA from Harvard Business School. He founded Bridger after previously founding Blue Ridge Capital with John Griffin and working at Julian Robertson's Tiger Management before that. In terms of other recent portfolio activity from his hedge fund, Mignone recently revealed two new positions. Additionally, we'd previously detailed some of his investment thoughts for 2010 from a hedge fund panel.

Taken from Google Finance, iStar Financial is a "finance company focused on the commercial real estate industry. The Company primarily provides financing to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity."

For more of Mignone's investments, head to our coverage of Bridger's portfolio.