Lone Pine Capital Discloses 5.1% Stake in Deltek (PROJ)
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In a 13G filing after the close on Deltek (Nasdaq: PROJ), Lone Pine Capital disclosed a 5.1% stake (2,206,293 shares) in the company. The firm did not show a stake in PROJ at the quarter ended September 30, 2007. A 13G indicates a 'passive investment'.
Deltek provides enterprise applications software and related services to the project-focused organizations.
Lone Pine Capital is a $9 billion long/short equity hedge fund founded in 1997 by Steve Mandel.
Prior to founding Lone Pine Capital, Mandel was senior managing director and consumer analyst at Tiger Management Corporation (1990-1997).
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