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Alternative Market Briefing

A new event driven fund finds opportunity in Europe

Friday, January 29, 2021

Bailey McCann, Opalesque New York for New Managers:

2020 was a great year for event driven strategies. The category was up 9.3% at the end of the year, according to data from HFR. Event driven funds benefited from market uncertainty as the pandemic forced businesses to make tough decisions.

Emerging hedge fund Aslan House was able to take advantage of this environment, beating category performance to end the year in the mid-teens, according to performance data for investors reviewed by Opalesque.

London-based Aslan House launched its flagship fund in 2019. The Aslan House Master Fund is an event driven equity and credit catalyst strategy, with a European bias. The approach is sector and market cap agnostic. Aslan House invests across the capital structure, playing the credit lifecycle as well as looking for catalysts. The fund builds on the work of CIO & Founder Luke Lynch. Lynch previously worked on event driven and arbitrage strategies at Merrill Lynch, Tudor Investment Corporation, and Oceanwood Capital Management.

"We're really looking for mispricings to the long or short side," Lynch tells Opalesque New Managers. "We aren't using a carry strategy. We're creating a concentrated portfolio of deals that we think aren't priced correctly, and we play it out. We operate in a fairly efficient part of the market. 95% of deals close, but the risk/return profile at d......................

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