Omega builds NAO stake

The Leon Cooperman-controlled Omega fund has amassed a 21.8% stake in Nordic American Offshore (NAO).

The offshore owner, spun off from Nordic American Tanker (NAT) last year, said Cooperman has 4.91m shares worth $81m.

Cooperman, of Florida, bought into the company in November and had 16% before the NAO's New York listing this month.

NAT itself had 26% before the IPO. Omega is the second biggest shareholder.