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Friday, August 29, 2014

This Fundster Likes Big Events

News summary by MFWire's editors

For some, it's all about the event.

For Thomas Sandell, it's about the thrill of making money via bets about merger-related events.

Sandell, who learned many tricks working under the legendary Ace Greenberg at Bear Stearns, has run hedge funds for some 16-years via his firm, Sandell Asset Management Corp.. He specializes in opportunities resulting from mergers and acquisitions, as well as activist investing.

Now, Sandell is bringing his merger-betting finesse to the retail consumer via his first mutual fund, the Castlerigg Equity Event and Arbitrage Fund, Bloomberg reports.

According to the SEC filing, the fund will focus on companies experiencing "extraordinary events," like mergers, takeovers, spinoffs and so on.

Bloomberg writer Miles Weiss notes that Sandell had worked with activist impresario Nelson Peltz to push major changes at H . J. Heinz in 2006.

Weiss further notes in the article that the "number of takeovers has surged this year, with some $1.9 trillion of mergers and acquisitions announced globally, a 65 percent increase from the same period in 2013. Should this pace continue, it will be the busiest year for deals since 2009."

Prepare for the great event(s).  

Edited by: Tommy Fernandez


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