Case Study - Global Event Partners

Global Event Partners is a long/short hedge fund which was launched in 2015 and focuses on global event-driven investments across a wide spectrum of catalyst types which include announced mergers, company offerings, spin-offs, financial/strategic restructurings and soft activism.

The investment process involves in-depth, proprietary research whereby the team evaluate the business logic for an event both strategically and financially and apply detailed valuation stress-testing. The team build proprietary financial models and conduct deep company and industry research. A significant portion of the research effort is devoted to identifying the timing and likelihood of a potential event.

The Fund predominantly invests in equity securities but opportunistically makes investments across the capital structure. 

The PM utilises a rigorous hedging strategy at both a position and portfolio level. Position hedges are determined on a combination of fundamental and statistical factors. The PM will use options and hedges to reduce risk and to avoid broad cross-correlation.

The fund is managed by Mark McKenna, with support from a highly experienced research team as well as access to the broad Blackrock investment capability.  Prior to joining BlackRock in 2014, Mark McKenna was a Managing Director at Harvard Management Company and co-founder of their event-driven fund. From 2004-2009, he was PM of the event driven strategy at Caxton Associates, prior to which he was an M&A investment banker.

 

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