Tages Capital Launches Third Single-Strategy UCITS Alternative Fund

Feb 21 2017 | 6:04pm ET

Tages Capital has launched a new liquid alternative event-driven fund in partnership with Madrid-based specialist investment manager Cygnus Asset Management.

The new fund, named the Tages Cygnus Europa Event Driven Fund, is UCITS-compliant and is the third sub-fund of the company’s Tages International Funds Luxembourg-domiciled SICAV umbrella. It aims to capture liquid investment opportunities relating to corporate activity in Europe, while adhering to UCITS limits and guidelines, and is launching with more than $30 million of institutional capital.

The fund’s strategy will focus on opportunities across the capital structure, looking for companies that may be impacted by inefficiencies and valuation discrepancies resulting from M&A, capital structure changes, spin-offs, regulatory changes, restructurings, and bankruptcies, according to a statement. 

The new fund will be managed by Jose Luis Perez, a veteran asset manager with more than 20 years of experience in long/short equity and proprietary trading. Before joining Cygnus, he was a founding partner of Shelter Island and co-manager of Shelter Island Offshore Fund Ltd., ran HVB Group’s Madrid Risk Arbitrage and Equity Proprietary Trading businesses, and headed the equity derivatives trading business at Banco Santander. 

“As an existing investor in the Cygnus Europa Event Driven strategy, Tages has been impressed by the manager’s ability to generate attractive risk adjusted returns and we are excited to be developing our partnership further,” said Jamie Kermisch, CEO of Tages Capital, in the statement. “The Tages Cygnus Europa Event Driven UCITS Fund provides investors with access to a highly experienced team with a highly focussed strategy proven capable of generating alpha across varied market conditions.”

“Cygnus is delighted to be partnering with Tages Capital on this important launch,” added Perez. “[Our] approach to investing is active, research driven, and with a special emphasis on risk control. With Tages representing one of the most active and influential investors in the fast growing UCITS alternatives segment, this fund will broaden our client base and enable us to attract additional interest in our strategy.”

London-based Tages Capital is an specialist alternative asset management business with approximately $2.1 billion in assets under management. Representing the dedicated asset management arm of Tages, which oversees over $7.8 billion in assets, Tages Capital manages alternative multi-manager and single manager portfolios as well as investment strategies, including funds dedicated to hedge investing, infrastructure and energy. 

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