You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Boston Capital

Boston hedge firm Baupost cashes in on Idenix sale

For a famously cautious investor, Boston hedge fund manager Seth Klarman made what seemed like a big bet on a single stock -- Idenix Pharmaceuticals Inc.

Klarman’s firm, the Baupost Group, began buying shares of Idenix in the spring of 2011 and didn’t stop until it owned more than 35 percent of the Cambridge biotech company this spring. That stake produced a huge profit for Baupost on Monday, when Idenix agreed to be bought by drug giant Merck for $3.85 billion.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week