Monday, May 27, 2024

Sand Grove launches event fund on Amundi platform

Sand Grove Capital Management is launching an event-driven strategy on the Amundi Alternatives UCITS platform.

The $1.5bn London-based manager, led by ex-Cheyne Capital manager Simon Davies, is starting a Ucits fund in conjunction with the European asset manager.

It will deploy a global event-driven equity strategy with a European tilt and seek to capitalise on mis-pricings in corporate events, according to the two firms.

“The partnership will allow the Sand Grove team to focus on what we do best, while also benefitting from the experience and reputation of Europe’s leading asset manager,” said Davies.

“Together, we have strong conviction in the outlook for European M&A. Activity levels are set to pick up rapidly on the back of improving macro data and financing markets. With fewer specialists focusing on the region, the current elevated rates of return are here to stay.”

The launch comes as the performance outlook improves for event-driven. But the fundraising climate has been difficult.

The deputy CIO of Oceanwood Capital Management has ended plans
to start his own hedge fund. Julian Garcia Woods will not launch CoreLane Capital Management and instead manage a family office under the Oceanwood name, With Intelligence reported.