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Michael Wegener Benedicte Gravrand, Opalesque Geneva for New Managers: Michael Wegener, who has been running an event-driven strategy with proprietary family capital since early 2012, has launched the Case Equity Partners Opportunities Fund on 1 March, with $2.5m of seed money from the family, on a multi-manager platform. Case Equity Partners was founded in 2012 initially as a family office.
Wegener has 15 years of experience in global M&A advisory and event-driven investing - an investing strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as a bankruptcy, merger, acquisition or spinoff.
This may be a good time for such funds as 2015 was an extraordinary year for global M&A activity and 2016 looks very promising. MergerMarket recorded almost 17,000 transactions worth $4.3tln in 2015. This topped the previous record set in 2014 by over 30%. Concerns over global growth, along with divergence in economic and monetary policies should create further M&A opportunities in 2016. However, event-driven hedge funds have lagged a bit of late. The Barclay Event Driven Index is down 2.2% YTD (est.) to end-February, after returning -3.2% in 2015, 0.5% in 2014 and 10.8% in 2013. Wegener’s strategy annualized 20% between May 2012 and July 2015.
"We are currently at the peak of global M&...................... To view our full article Click here
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