Silver Point Capital Discloses 5.5% Stake in Downey Financial (DSL)
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In a 13G filing after the close on Downey Financial Corp. (NYSE: DSL), Silver Point Capital disclosed a 5.5% stake (1,520,000 shares) in the company. At the quarter ended March 31, 2008, Silver Point showed a 286,000 share stake in Downey. A 13G indicates a 'passive investment'.
Downey Financial Corp. operates as the holding company for Downey Savings and Loan Association, F.A. that provides various financial services to individual and corporate customers.
Silver Point Capital L.P is a privately owned hedge fund sponsor. The firm manages hedge funds for its clients. It invests in the public equity, fixed income, and hedging markets of the United States. The firm primarily invests in securities of distressed, large-cap, and Mid-cap companies; bank debts; bonds; and trade claims. It specializes in credit analysis and diversified credit-related investments. Silver Point Capital is based in Greenwich, Connecticut.
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