ML Capital Launches Mygale Event-Driven UCITS Fund on MontLake Platform

Feb 2 2016 | 9:20pm ET

ML Capital has announced the launch of a new European event-driven equity strategy as a UCITS-compliant fund on its MontLake platform.

The Mygale Event Driven UCITS Fund is domiciled in Dublin and is the new vehicle for the event-driven strategy pursued by CIO Neil Tofts during stints at Deephaven Capital Management, KBC Alternatives, and Merrill Lynch. The fund is diversified across a number of strategies, including merger arbitrage, catalyst-driven investments, relative value and special situations.

The Mygale team pursues a trading strategy built around a three-tiered method designed to capture additional alpha for every position, structured to embed optionality and favorably skew risk, according to a Mygale profile. The firm was initially registered in the U.K. in November 2014; initial investment is by Old Mutual Wealth's multi-asset unit, according to a company statement.

“We are pleased to offer our event-driven strategy to a wider audience across Europe through our new UCITS Fund,” said Tofts. “I'm excited that we have day one investment from such a respected group as Old Mutual Wealth."

ML Capital’s MontLake UCITS Platform, with 16 funds, is an independent platform for UCITS vehicles providing investors with access to a range of liquid, transparent and regulated investment products domiciled in Dublin. 

Founded in 2009, ML Capital specializes in a range of alternative and traditional investment solutions for a global client base, with over $1.5 billion of assets under management across a suite of products.


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