ML Capital are certainly busy right now.
ML Capital are certainly busy right now. After reporting last week that DUNN Capital Management, the US-based CTA manager, had joined its MontLake UCITS platform in Ireland, the firm announced this week the addition of another US manager: New York-based Para Advisors, an event-driven hedge fund manager with USD350million in AUM. The Para International UCITS fund is due to commence trading at the start of July. It will seek to replicate the performance of Para Advisor’s flagship event-driven multi-strategy fund, which has delivered annualised returns of 11.5 per cent since 1991 according to ML Capital. Event-driven strategies look to profit from companies involved in M&A activity, spin-offs, capital restructuring and other special situations. Para Advisors President, Ned Sadaka, said that the firm’s longstanding focus on the “more liquid event-driven situations” made it particularly suitable to deliver a robust event-driven portfolio to investors within the UCITS format. “We are delighted that Para Advisors has chosen to partner with ML Capital to launch their UCITS fund,” said ML Capital Chairman, John Lowry (pictured).
