Opalesque Industry Update - Bernheim Dreyfus, the Paris-based investment manager, launched last week a mergers and acquisitions fund regulated under UCITS III rules to meet increased investor demands for more liquid and transparent investments in this sector of market activity. |
The Diva Synergy (Ucits) fund is regulated by the French Financial Authority (Autorité des marchés financiers) and replicates the event-driven Diva Synergy Fund which gained over 27% last year successfully exploiting the increase in M&A activity during 2010.
Amit Shabi, partner at Bernheim Dreyfus, expects the volume of M&A activity will continue to rise through 2011 creating an exceptional range of investment opportunities. ‘M&A picked up momentum in 2010 and continues to grow rapidly. We’re forecasting global deal activity to increase by as much as 40% this year, by comparison to 2010’’.
The Diva Synergy (Ucits) fund started investing in June 1st and has initial committed capital of $10mln. The target is to manage $100mln within 1 year.
Explaining the decision to launch a UCITS product Shabi said, ‘’During the financial crisis it became clear that many hedge funds were not in line with investors’ expectations in terms of liquidity and transparency. The Diva Synergy (Ucits) fund will offer transparency and liquidity as we respond to investor requirements for products which conform with the EU Directive.’’.
Bernheim, Dreyfus & Co.
Paris-based Bernheim, Dreyfus & Co was founded in 2006 as an alternative investment firm focusing on M&A-related strategies, managing an event driven hedge fund – Diva Synergy.
Diva Synergy is managed by Amit Shabi and Lionel Melka. Lionel Melka has 10 years’ of experience as an M&A advisor for blue chip clients in prestigious banks as Lazards, Calyon and Rothschilds. He has been involved in more than 20 major transactions totaling more than $50 billion.
Amit Shabi has long experience in asset management and capital markets with Rothschilds, the Man Group and others.Corporate website: Source