French hedge fund CIAM has launched the Satellite Event-Driven Ucits fund in July.
The fund invests on several segments among which event driven strategies, special corporate situations, equity value with a catalyst and merger arbitrage strategies. Through that exclusive focus on special situations and merger arbitrage strategies, the fund invests in shares of companies listed in the main Western European and US equity markets.
Transactions or other events occurring in companies targeted by the fund include mergers and acquisitions, spin-offs, tender offers, shareholder buybacks, debt exchanges, securities issuance or other capital structure adjustments and regulatory changes.
HFM Week reported earlier that the fund recorded €242m of commitments so far.
CIAM was co-founded by Catherine Berjal and Anne-Sophie d’Andlau in 2010 and has offices in Paris and London.