Giant LA hedge fund buys into Ardagh

Canyon Capital acquires 10.5 per cent stake in Irish firm

Paul Coulson

Canyon Capital Partners, a giant American hedge fund, has emerged as the biggest outside investor in Ardagh, the glass and metal packaging company that floated on the New York Stock Exchange last month.

Filings in recent days reveal that Canyon Capital, which has $14 billion (€13 billion) of assets under management, controls about 10.5 per cent of shares Ardagh listed on stock exchange.

Canyon is based in Los Angeles and was founded by ...