Sun, Dec 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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und