Sun, May 20, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Intimate understanding of a company’s structure allows Akanthos’s Kao to be opportunistic

Tuesday, June 18, 2013

By Beverly Chandler, Opalesque London:

The Opalesque 2013 West Coast Roundtable, sponsored by Sunrise Capital, the The California Hedge Fund Association, Eurex and Taussig Capital saw Michael Kao, founder and chief executive officer with Akanthos Capital Management, based in Los Angeles explain how he achieves option-like payoffs in capital structure long/short trades.

Kao founded Akanthos in 2002 and the firm is a capital structure long/short fund with an event bias with some $110m under management, about 45% of which are Kao’s own funds. Kao explained: "When I said we do capital structure long/short with an event bias, the first part of that description means that we are bottom-up fundamental investors across the capital structure, viewing the capital structure as a continuum of components with different risk/reward characteristics. Our aim is to structure the overall portfolio as a collection of thematically diverse, asymmetric payoffs by creatively combining disparate pieces of the puzzle, so to speak. More often than not, we are looking for catalysts to unlock the opt......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven