April 20 (Reuters) - Hedge fund manager David Einhorn's Greenlight Capital has taken a fresh stake in General Motors Co , nearly a year after exiting its position in the automaker, the firm said in a letter to clients on Monday.
The fund believes General Motors has put the impact of recalling more than 2.5 million vehicles in 2014 because of ignition switch issues behind it, while it expects the company will begin its $5 billion share buyback soon.
The fund also entered into two other long-term investment positions in AerCap Holdings NV, Chicago Bridge and Iron Company NV in the first quarter.
Greenlight also said that it had exited its position in Aetna Inc.
Einhorn detailed the moves in an investment letter obtained by Reuters.
(Reporting by Narottam Medhora in Bengaluru and Svea-Hervst Bayliss in Boston; Editing by Alan Crosby)