Thu, Aug 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Brencourt Advisors to manage Central Park Group's event driven fund

Thursday, November 03, 2011
Opalesque Industry Update - Central Park Group, LLC announced today that Brencourt Advisors, LLC has assumed portfolio management responsibility for Central Park Group Multi-Event Fund, a multi-strategy event-driven fund. The Fund invests in credit opportunities, merger arbitrage and equity special situations. It invests in a portfolio of "events" allocated across companies, sectors and strategies.

Central Park Group Multi-Event Fund is advised by Central Park Multi-Event Management, a joint venture between Central Park Advisers and Brencourt. Founded in January 2001 by William Collins, Brencourt has a 10-year record of attractive risk-adjusted returns.(1)

Mr. Collins, the Fund's Portfolio Manager, has over 20 years of experience managing event-driven investments. Prior to founding Brencourt, Mr. Collins was a Senior Managing Director at ING Furman Selz Asset Management where he managed the firm's capital in event-driven strategies, as well as over $1 billion in client assets. He served on its Board from 1989 until its acquisition by ING Group in 1997.

"Brencourt brings specialized expertise in event investing to Central Park Group Multi-Event Fund," said Greg Brousseau, Co-CEO, Co-CIO, Central Park Group. "We are impressed with Brencourt's 10-year record of attractive returns, their approach to the asset class and their research, trading and risk management capabilities."(1)

"We have been following Brencourt for some time and are pleased to make their strategy available to high net worth investors in a user friendly structure," said Mitchell Tanzman, Co-CEO, Co-CIO, Central Park Group. "Central Park Group Multi-Event Fund provides a 1099, quarterly liquidity and a $50,000 investment minimum."(2)

"Central Park Group Multi-Event Fund represents an opportunity for Brencourt to make its strategy available to a broader universe(3)," said Mr. Collins, CEO of Brencourt and Portfolio Manager of Central Park Group Multi-Event Fund. "Brencourt professionals bring decades of event-driven investment experience and lessons learned from 35 years of market cycles to the Fund."

The Fund's objective is to achieve capital appreciation while seeking to moderate risk and reduce volatility by pursuing a variety of investment strategies. www.multieventfund.com.

(press release)

Central Park Group was founded to serve the growing demand for alternative investments among high net worth and smaller institutional investors. The Firm sources institutional quality hedge fund, private equity, real estate and fund-of-funds managers and provides a platform of offerings that are appropriate for a broad range of qualified investors. www.centralparkgroup.com

(1) Past performance is not indicative of future results.
(2) Currently, the Fund expects to offer to repurchase 25% of its outstanding Shares every January, April, July and October. Amount (5-25%) available to repurchase is in Board's discretion. Fund cannot guarantee that shareholders will be able to sell as many Shares as they desire. The Fund has an interval structure such that the Fund's quarterly repurchases may continually decrease the overall size of the Fund to the extent that additional Shares are not sold. Minimum may be waived for certain investors.
(3) Investors must have a net worth of more than $2 million (jointly with spouse) or be a "qualified client" as defined in Rule 205-3 under the Investment Advisers Act.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  2. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  3. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  4. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde

  5. Investors now net short S&P500 and increased Russell shorts, technicals suggest further selling[more]

    Komfie Manalo, Opalesque Asia: Market Neutral funds increased their market exposure to -1% net short from -6% net short last week, according to Bank of America Merrill Lynch’s Hedge Fund Monitor. The report also added