Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Advantage Capital Management launches special situations fund

Wednesday, September 10, 2014

Bailey McCann, Opalesque New York for New Managers:

US-based Advantage Capital Management is the latest entrant into the special situations/M&A fund cohort. The firm launched in 2011, after proving itself as a managed account. Now, Irvin Schlussel, Founder and Portfolio Manager at Advantage is focused on building his fund and a business by taking advantage of the frothy M&A market.

"So far we've more than doubled the fund size since launch," he tells Opalesque. The fund is up 27.9% since launch in December as well.

Advantage looks at a variety of special situations, merger arbitrage opportunities and corporate events for its investment strategy. The primary area of corporate action the firm focuses on is bankruptcy and corporate restructurings. More specifically, Schlussel and his team have developed an expertise with understanding Chapter 11 bankruptcies, sitting on creditor committees and finding opportunities in the dislocations bankruptcy can create.

In the current market, with M&A activity being at record highs, Schlussel explains that investment opportunities aren’t hard to come by. "I think if you look at this M&A cycle we are seeing merger arbitrage spreads that we haven't seen in quite awhile, that's a solid opportunity set for us."

"I'd expect you'll see sort of more classical distressed opportunities in the next few y......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1