Hayman Capital buys GM stake

Hedge fund Hayman Capital has taken a stake in General Motors and believes the US carmaker’s stock could rise more than 40 per cent over the next 12-18 months after the US Treasury sells its stake in the company, a source familiar with investment said yesterday. Hayman Capital’s move into GM comes as the US government is in the process of selling its remaining stake in the company and as other new potential investors eye the stock, said two people working at a different hedge fund but who were not permitted to speak to the media.