Wednesday, June 27, 2007

Sageview Capital - Batting One Thousand

This morning, a stock on our activist list, Guitar Center (Nasdaq: GTRC), announced they would be acquired by private equity firm Bain Capital for $63 per share, a 26% premium to yesterday's close.

In September of 2006 we noted that newcomer Sageview Capital, founded by former KKR stars Ned Gilhuly and Scott Stuart, had built a 6.46% stake in the company.

Sageview had a cost basis of around $39.70 per share, indicating a potential profit of 59%. Not bad for your first investment!

The only other stock Sageview held at the quarter ended March 31, 2007 was Invitrogen Corp. (Nasdaq: IVGN), 920,986 shares.

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