TQA Investors has added a new event arbitrage team to its current line-up of global convertible arbitrage, credit arbitrage and long/short professionals.
Dwight A Eyrick, who is joined by Barry G King and Michael A Loungo, heads the Stamford, Connecticut-based multi-strategy investment firm's new team. The trio have been together for the past five years managing event driven, convertible, and merger arbitrage and boast over thirty years of combined experience. They will launch the new TQA Event Arbitrage Fund on 1 March as well as contribute to the firm's forthcoming multi-strategy platform.
"As we continue to diversify our investment strategies, it brings me great pleasure to welcome aboard such a seasoned and talented event arbitrage team," says Bob Butman, president and CEO of TQA Investors.
Eyrick, who will serve as senior portfolio manager of TQA's Event Arbitrage Fund, was previously managing partner at West Broadway Partners, Inc, an investment partnership based in New York City. King, TQA's new director of event arbitrage trading, formerly served as head trader at the same partnership, while Loungo, who joins TQA as director of event arbitrage research, was senior research analyst.
"It is exciting to join such an established firm as TQA with its proven long-term track records," says Eyrick. "Our approach to Event Arbitrage combines quantitative analysis with fundamental research and qualitative judgment and, thus, is very similar to TQA's existing approach to convertible arbitrage. We are very much alike in that we are both strong believers in diversification, discipline and risk control. We should fit in very nicely with their philosophy and their focus on consistent returns with low volatility."
The TQA Event Driven Fund will pursue merger arbitrage, recapitalizations, spin-offs, tender offers and host of other event-oriented strategies. The Fund will utilize vigorous risk control techniques including capital concentration limits, sensitivity analysis, and regular portfolio reviews.