Bernheim, Dreyfus & Co Signs Deal With BofAML

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.”


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note