Funds
Felix Lo, a merger arbitrage specialist who managed money at Sandell Asset Management and Izzy Englander’s Millennium Management, has joined Trium Capital to run a new USD200 million global event driven fund targeting the ongoing resurgence in corporate M&A activity.
Following the global outbreak of the Covid-19 pandemic in March 2020, the private capital industry saw a significant build-up of dry powder. Special purpose acquisition companies (SPACs) provided an outlet for these funds. However, sponsoring firms need to consider several factors to be well-prepared for launching a successful SPAC.
Zac McGinnis (pictured), Managing Director, Riveron, comments on the opportunity SPACs provided, particularly in the context of 2020: “A SPAC offered investors a vehicle to take advantage of the built-up dry powder. This type of investment is based on investors’ trust in a management team. When investing in a SPAC, investors
Last year witnessed the meteoric rise of special purpose acquisition company (SPAC) deals. But, as regulators take a closer look at this development and fewer deal-ready companies are available for acquisition, the industry could see a slow-down in momentum.
“This latest iteration of the SPACs market is a lot more mature, and the industry is starting to see bigger names putting their weight behind it. There is growing market acceptance of SPACs for a whole range of reasons,” outlines Jeremy Swan, Managing Principal – Financial Sponsors & Financial Services Industry, CohnReznick.
He says that from a financial perspective, a SPAC
By A Paris – Following a year of high exuberance, the market for special purpose acquisition companies (SPACs) has slowed since peaking in mid-February 2021. Now, with the US Securities and Exchange Commission (SEC) changing accounting rules and vowing to keep a close eye on the market, the momentum behind these vehicles has reduced. But despite the market cooling off, the space remains attractive as the increased scrutiny can lead to better quality structures with more robust due diligence on behalf of sponsors, to the benefit of the investors.
“Since the beginning of 2020, SPACs have raised a collective USD167 billion in
Hedge fund performance was broadly positive in April, with 85 per cent of funds reporting to eVestment seeing positive performance figures and the industry as a whole posting a return of +2.61 per cent for the month, according to the just-released April 2021 eVestment hedge fund performance data.
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2021 measured 2.04 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.26 per cent in May.
“SS&C GlobeOp’s Capital Movement Index for May 2021 of 0.26 per cent indicates higher net flows into hedge funds than the same period a year ago when inflows of 0.13 per cent were reported,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “So far, in 2021, every month has shown increased net flows compared to last year’s.”
Apex Group has launched an Outsourced Special Purpose Acquisition Company (SPAC) Chief Operating Officer Solution via subsidiary Throgmorton US.
Read the full story at Private Equity Wire…
Energy-focused hedge fund Westbeck Capital has bagged its sixth consecutive monthly gain, as it “aggressively” tapped into buying opportunities during last month’s steep oil correction.
The Westbeck Energy Opportunity Fund – Westbeck’s flagship long/short directional hedge fund strategy which trades across equities, futures and options – scored a 3.9 per cent gain in April, and has already started May positively, the firm said on Wednesday.
The strategy – whose returns have surged more than 46 per cent in the first four months of 2021 – capitalised on buying opportunities in the aftermath of the seismic oil sell-off back in March and April, which the firm saw as a
Over the past year, more than 100 clients globally have successfully implemented Bloomberg’s Buy-Side Solutions, which are used by some of the world’s largest asset managers, hedge funds, insurance companies, pension funds and government agencies.
Read the full story at Institutional Asset Manager…
TMX Group subsidiary Trayport Limited (Trayport) is to acquire Tradesignal, a provider of rules-based energy trading and analysis solutions.
“The acquisition of Tradesignal is another milestone in our growth strategy, as we continue to focus on meeting the increasing market demand for data and analytics, to support quantitative and automated approaches to trading,” says Peter Conroy, President, Trayport. “Tradesignal complements Joule, and combined with Trayport’s Data Analytics and autoTRADER solutions, will further enhance decision making and the trading experience. A large number of major European energy market participants are already existing Tradesignal clients, and we look forward to working with
