Hedge Fund Takes MasterCardStake
WALL STREET - (06/09/06) Atticus Management LLP, a $12billion hedge fund, reported it has taken a 5.1% stake inMasterCard International, based on shares bought in lastweeks initial public offering. The hedge fund filed adisclosure statement with the Securities and Exchange Commissionindicating its investment is a passive one, which makes it one ofthe five biggest owner of the cards company. The four are bankgiants JP Morgan Chase, Bank of America, Citibank and HSBC. Atticusis known for buying significant equity stakes in companies thateither are in a hot sector, are ripe for a rebound or are potentialacquisition targets.