Phil King’s ambitious hedge fund group Regal Partners has emerged with a 5.5 per cent stake in the Kerr Neilson-founded Platinum Asset Management, in a shock twist for the consolidating stock-picking industry and the intentions of the newly listed Regal.
Regal’s interest was disclosed in an after-market filing revealing that it has accumulated more than 32 million Platinum shares since June 14, worth $56.1 million at Tuesday’s closing price of $1.74.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
