Halcyon sees comeback for cable

Reuters – Cable companies will beat out telephone companies in the fight to wire homes with media services, at least over the next 18 months, the chief investment officer of Halcyon Asset Managementsaid on Monday.

John Bader, speaking at the Reuters Hedge Funds and Private Equity Summit in New York, also said Halcyon will soon announce a new fund specialized in structured finance, where there is very little competition.

Bader declined to give details on the new fund, other than to say Halcyon — a hedge fund with $3.6 billion under management — expects to hire someone soon to lead the fund and that industrywide the strategy has the capacity to hold more than $1 billion in assets.

Cable stocks, much maligned recently, will benefit from the convergence of the Internet, cable and telephone services, known as the triple play, Bader said.

“The so-called triple play is definitely upon us today. With that said, within the next 18 to 24 months, the cable companies are going to be the beneficiaries of that,” he said.

“Going forward, the cable industry will say it was a great five-years, wasn’t it?”

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