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# Hedge Fund’s Flagstone Re Stake Increases
- URL: https://www.riskmarketnews.com/hedge-funds-flagstone-re-stake-increases/
- Published: 2011-10-21T19:32:00.000Z
- Updated: 2011-10-21T19:32:00.000Z
- Author: Chris Westfall

Elliott Management Corp. – the activist hedge fund run by Paul Singer – now owns over 9 percent of the outstanding common stock of Flagstone Reinsurance Holdings SA after [slowly buying up shares](http://f67.a75.myftpupload.com/files/Activist%5FFund%5FLoads%5FUp%5Fon%5FFlagstone%5FShares.html?ref=riskmarketnews.com) over the past several months. According to a notice filed with the Securities and Exchange Commission on Wednesday, Elliott and its subsidiaries now own 9% of Flagstone’s outstanding common stock or 6,312,250 shares. That’s up from 7 percent of the stock a month ago, filings show. 

The fund was especially active in October, snapping up 280,000 shares of the Bermuda-based reinsurer on October 18th (a day before the filing) for $8.30 apiece.

The total cost of the fund’s stake in Flagstone was $50.5 million, filings say.

Singer and his $15 billion fund traditionally focuses on distressed investments and company turnarounds. 

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