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Merger Arbitrage: How to Profit from Event-Driven Arbitrage Thomas Kirchner
Publisher: Wiley

Merger Arbitrage: How to Profit from Event-Driven Arbitrage Publisher: W i l e y | 2009 | PDF | ISBN: 0470371978 | 355 pages | 15.5 Mb Written by a fund manager who invests solely in merger. Merger Arbitrage: How to Profit from Event Driven Arbitrage. Focusing on identifying company specific catalysts such the addition or deletion of a stock from an index, the start-up of a new mine or a merger arbitrage opportunity provides a great way to maximize non-correlated long term investment returns while minimizing risk. He currently runs two hedge funds, the SOG Fund (global multi-strategy arbitrage) and SOGAsia. Firm & Location: Paulson Partners, U.S.. The SOGAsia fund is an Asia including Japan, multi-strategy arbitrage fund. I was at Nomura for a little over a year and then joined Owl Creek Asset Management, a hedge fund, where I specialized in global risk-arb event-driven investing and also Asia equities. Considering how the merger revival that so many strategists and analysts predicted has not occurred, the event-driven community is in all the same names. After spending two years at Citigroup, I found an interesting opportunity at a firm called Cathay Financial that blended both my finance experience and my law background, and I joined them as a “merger arbitrage” analyst. The SOGAsia Fund was It is commonly viewed that arbitrage strategies have to leverage up to the high single digits in order to make money off some very small spreads. Source: Bloomberg Kyle Bass (tied). Firm & Location: Hayman Capital Management, U.S.. A detailed seem at an critical hedge fund strategy. It employs structure arbitrage, closed-end fund arbitrage, pair trading, merger arbitrage and event driven strategies. Analyst on their risk-arbitrage team. Image courtesy of Hayman Capital.