Fri, Dec 9, 2016
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 County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest