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Investments / The Ticker

Investors in PennyMac gain larger stake

Two hedge funds report beneficial ownership to the SEC

carriage _ money

A group of investors acquired enough of a stake in PennyMac Financial Services (PFSI) to prompt a series of new filings with the Securities and Exchange Commission.

So who are these investors?

Two of the filings are tied to hedge fund, Bridger Management LLC, which Businessweek classifies as an employee-owned hedge fund catering to high-net worth individuals. Generally, Bridger Management invests in public equity markets. According to an SEC filing, Bridger controls a 9.1% share of the voting class.  

Bridger is one of four parties to file an updated Scheduled 13G form – or beneficial ownership form – with the SEC. Entities file this type of document after obtaining stock ownership that exceeds 5%. 

Bridger Management executive Roberto Mignone also filed a form with the SEC, advising the agency of his stake.

Another firm, Swiftcurrent Offshore Master and a related entity, filed beneficial ownership reports. Swiftcurrent noted that it controls 1.041 million in shares, giving it a 5.5% stake. Swiftcurrent is described as a pooled investment fund.

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