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8/7/2014 Maverick Capital Starts Countrywide Plc Stake ~ market folly

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market folly
About/Contact New Hedge Fund Wisdom Issue Just Released
Tuesday, July 22, 2014
Maverick Capital Starts Countrywide Plc
Stake
Lee Ainslie's hedge fund firm Maverick Capital has disclosed a new position in London listed
residential estate agent, Countrywide Plc (LON:CWD). Due to trading on July 14th, Maverick
now hold the equivalent of 3.04% of Countrywide's voting rights, all via total return swap.
Countrywide Plc is the UK's largest estate agency group. In 2007, the company was taken
private by Apollo Management. In March 2013, it was re-listed on the London Stock
Exchange. Currently, the largest shareholder is Howard Marks' Oaktree Capital with 27.59%
of the voting rights.
For more on Maverick, check out an in-depth interview with Lee Ainslie here.
Per Google Finance, Countrywide Plc is "an integrated residential estate agency and property
services group in the United Kingdom. The Company offers estate agency and lettings
services, together with a range of complementary services. The Company operates in five
businesses: residential property sales; residential property lettings and property
management; arranging mortgages, insurance and related financial products (provided by
third parties) for participants in residential property transactions; surveying and valuation
services for mortgage lenders and prospective homebuyers, and residential property
conveyance services. Countrywide Holdings, Ltd. is the holding company of the Company."
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Posted by market folly at 11:45 AM
Labels: hedge fund portfolios, lee ainslie, maverick capital, uk positions

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8/7/2014 Maverick Capital Starts Countrywide Plc Stake ~ market folly
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