June 23, 2006

Farallon Hedge Fund Boosts Mills Stake

Farallon Capital Management has boosted its stake in troubled mall owner Mills Corp. Farallon is one of the world's largest hedge funds. It disclosed in a SEC filing that now it owns 4.39 million shares, which is 7.7 percent of the real estate investment trust's outstanding stock. Farallon is following a number of strategies that include credit investments, restructurings, value investing and direct debt payments. Mills Corp. is currently restating its financials and exploring a sale of the company.

According to The Street :

Mills shares closed Thursday at $28.17, down 1.3%. The stock has plummeted since reaching a 52-week high of $66.44 last summer, though it has recovered somewhat from a 52-week low of $26.30 on April 7.

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June 23, 2006 in Emerging Markets | Permalink




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