Wednesday, 27 August 2014
Last updated 10 hours ago
Mar 23 2012 | 11:19am ET
Paris-based merger arbitrage specialist Bernheim, Dreyfus & Co. has appointed Bank of America Merrill Lynch as an additional prime broker for the Diva Synergy Fund and the Diva Synergy UCITS Fund.
Under the terms of the agreement, BofAML will provide financing and settlement services to the funds, regarding the purchase and sale of securities entered into by the funds, with either third parties or BofAML. Bernheim says the nature and type of transaction will determine the allocation of fund assets between BofAML and the current prime broker.
Over the last 36 months, the Diva Synergy Fund has gained 7.4% while the UCITS version has returned 2.44% since inception in June 2011.
The Diva Synergy team, led by Bernheim CEO Amit Shabi, expects M&A activity to pick up steadily in 2012 as cash-rich corporations and private equity firms, with more available financing, begin deploying capital in stronger capital markets. The firm points to technology, industrials, natural resources and healthcare as sectors most likely to actively consolidate.
Said Shabi, in a statement: “After analyzing the different counterparties, we have decided to appoint BofA Merrill Lynch and are excited to start our business relationship with its renowned lending and operational crew as well as with its first-class capital introduction team.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...