Hedge Funds, Private Equity Players Drive PIPEs Market In Q4

Jan 24 2011 | 10:35am ET

Alternative investment firms were the biggest and busiest players in the private investments in public equities space in the fourth quarter.

Hedge funds were the most active investors in terms of both deal volume and dollar volume, investing more than $5 billion in 287 deals, according to the PIPEs Report. Private equity and venture capital firms participated in the second-largest number of deals, 52, and had the fourth-largest amount invested in the fourth quarter at $938.6 million.

PIPEs Report said that the fourth quarter was the busiest quarter for the PIPEs market in more than two years.

Hedge funds crowded the lists of the biggest PIPEs investors on the quarter, both in terms of dollars invested and number of investments. Brookfield Asset Management took second in the former, with more than $2.3 billion invested, followed by Pershing Square Capital Management in fourth with more than $1 billion and the Blackstone Group in fifth with $656 million. Other deep-pocked alternatives firms included Paulson & Co., TPG Capital, Anchorage Advisors, the Carlyle Group, Thomas H. Lee Partners and Soros Fund Management.

In terms of deal volume, hedge funds were even better represented. Downsview Capital, Iroquois Capital and Hudson Bay Capital Management each participated in 25 or more PIPEs deals to take the top three spots on the list. Other busy hedge funds included Jayhawk Capital Management, AQR Capital Management and Deerfield Management.

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Editor's Note