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U.S. Money Manager Sees Buying Opportunity With Home Capital

  • Philadelphia Financial bought 1 million shares in past week
  • Firm sees Home Capital as buyout target for regional banks

At least one investor sees a buying opportunity in Home Capital Group Inc.’s latest woes.

Philadelphia Financial Management of San Francisco, which oversees about $700 million, spent $10 million in the past week buying more than 1 million shares of the Canadian alternative lender, according to managing partner Jordan Hymowitz. He’s betting that Home Capital will be acquired.