TheStreet.com – Hedge fund Atticus Management is shifting its attention to credit cards and airplanes.
The $12 billion fund led by Timothy Barakett disclosed Monday that it has acquired 5.1% equity stakes in both MasterCard (MA:NYSE – commentary – research – Cramer’s Take) and Mexican airport management company Grupo Aeroportuario (PAC:NYSE – commentary – research – Cramer’s Take), also known as Pacific Airport Group. On the basis of today’s share prices, Atticus’ stake in MasterCard is valued at $200 million, and its holding in Pacific Airport is worth $76 million.
Atticus, which manages six different funds, has made a strategy out of buying significant equity stakes in companies that either are in a hot sector, are ripe for a rebound or are potential acquisition targets. Atticus is up about 27% this year.
