Baupost Founder's Fillies (And Other Horses) Win Big

Aug 15 2012 | 10:06am ET

Baupost Group may be having a mediocre year, but founder Seth Klarman is having an extraordinary summer at the racetrack.

Klarman's horses have been the big winners at the summer meet at Saratoga Race Course in upstate New York. The hedge funder had run 25 horses through Aug. 11, with more than three-quarters of them finishing in the money. Klarman's horses have won $471,932 in the first three-and-a-half weeks of the meet, over $160,000 more than his closest competitor.

Klarman, who also owns a minority stake in Baupost's hometown baseball team, the Boston Red Sox, runs the racing business with partner Bill Lawrence, a founder of Meridian Capital Partners.

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Editor's Note