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Rating:Water Island Capital Fund Taking Advantage of M&A Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 20, 2013

Water Island Capital Fund Taking Advantage of M&A

News summary by MFWire's editors

Bloomberg's Saijel Kishan, Tara Lachapelle and Kelly Bit reported on John Paulson, Drew Figdor and Peter Schoenfield's outperforming funds that aim to profit from corporate mergers.

The article quotes John Orrico, co-PM for the Abritrage Fund at Water Island Capital [profile] , who said to Bloomberg, "We've got some good ingredients" in regards to fueling a rebound for merger arbitrage, adding, that takeover activity, "is hefty enough to keep us fully invested but it's not this crazy robust deal environment that a lot of bankers and investors have been predicting."

Kishan, Lachapelle and Bit wrote that higher interest rates should prove good news for funds focused on the strategy because risk-free interest rates determine spreads. The fund returned 0.3 percent this year in the retail share class, trailing 96 percent of its peers, Kishan, Lachapelle and Bit reported. Orrico's firm's Arbitrage Event Driven Fund has gained 3.2 percent, ahead of 47 percent of its peers, Bloomberg writes.

To read more, click here.  

Edited by: Casey Quinlan


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