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From Komfie Manalo, Opalesque Asia:

Theta Capital Management, an independent fund of hedge funds (FoHFs) manager based in Amsterdam, the Netherlands, said in its recent Quarterly Review newsletter that the company was positive on the outlook for event-driven strategies, as increased M&A volumes are creating more trading opportunities for skilled long/short and merger arbitrage hedge funds. So sure is the firm of even-driven strategies that it said it would add one or two more funds in the coming months.

Theta, with $1.2bn in AuM, said M&A volumes had picked up in 2009 and forecasted the trend to continue. “Although global M&A lending is at historical lows, we see anecdotal evidence of bank loan issuance picking up. Businesses with strong free-cash-flow generation will be able to access financial markets,” the newsletter said.

This assessment was supported by BNY Mellon, a large custodian of financial assets, which announced in late October that it saw more acquisition opportunities in Europe and in Asia in the coming months.

SWFs to become a major force in global M&A According to Theta Capital, BRIC countries (Brazil, Russia, India, China) and sovereign wealth funds (SWFs) are becoming an increasingly dominant force in global M&A. The firm said that the BRICs had already executed over $50bn o......................

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