US hedge fund Coastal buys Billabong stake

Coastal Capital International snares 5% stake in troubled retailer, two years after push to derail Alinta restructure.

Upstart New York-based hedge fund Coastal Capital International has bought a 5% stake in Billabong International, two years after it attempted to derail the $2 billion restructure of Alinta Energy. 

The small fund was announced as a substantial shareholder on the retailer's share register today. 

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