Cygnus Unveils Event-Driven Fund

Jun 9 2010 | 9:59am ET

Spain’s Cygnus Asset Management has launched an event-driven hedge fund.

The Madrid-based US$660 million firm’s Europa Event Driven Fund began trading with US$20 million at the beginning of the month, HFMWeek reports. The new fund debuted with money from existing investors.

New hire José Luis Pérez Esteve helms the new fund, which focuses on pre-announced mergers, relative value and spin-offs. Pérez Esteve joined the firm from London-based special situations hedge fund Shelter Island Capital Management. Cygnus plans to add an analyst and trader to the new fund’s team, as well.

The event-driven fund has a capacity of US$1 billion. There is a $1 million minimum investment requirement. The fund charges 2% for management and 20% for performance, and features monthly liquidity with 45 days’ notice. Goldman Sachs serves as its prime broker.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of