Massoud's Melqart Asset Management Said To Consider Closing To New Money

Oct 12 2017 | 10:30pm ET

Michel Massoud’s multi-strategy event-driven hedge fund manager Melqart Asset Management is reportedly planning to close its fund to new capital following a surge in AUM to more than $600 million. 

The London-based manager believes assets have grown to the point where it will close to new investments “shortly”, according to a Bloomberg article citing unidentified persons familiar with the plans as well as an investor letter. 

A former partner at Cheyne Capital and co-manager of that firm’s event-driven fund, Massoud founded Melqart in late 2015 with about $100 million in capital. Before Cheyne, he spend six years with Morgan Stanley.

The company’s flagship Melqart Opportunities fund is up approximately 18% so far this year, Bloomberg noted, and returned more than 14% last year. 

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