Man GLG, Man Group's discretionary investment management business, has launched an event driven alternatives Ucits fund.
Man GLG Event Driven Alternative provides investors with access to Man GLG's Event Driven Strategy, a market neutral, global risk arbitrage and event strategy focusing on mergers and acquisitions.
The strategy applies a long-short approach, which seeks to profit from M&A deal spread driven opportunities and aims to be uncorrelated to the market.
Managed by Cristian Cibrario, the fund uses a proprietary, disciplined and scalable investment process to take positions and manage risk. It will typically hold between 20-40 positions sourced from a globally diverse investment universe, including small, mid and large cap deals across both developed and emerging markets.
Cibrario has nearly 15 years' experience in event driven investing, the last six of which have been spent within Man GLG's Global Credit Multi-Strategy and European Long Short equity teams managing the risk arbitrage strategy. The fund will leverage the knowledge of Man GLG's sector specialists as well as its proprietary trading platform.
Cristian Cibrario, portfolio manager at Man GLG, said: "With healthy levels of M&A continuing in 2019 and beyond, the opportunity set for investing in these deals and seeking to exploit market inefficiencies is wide and continues to be attractive. By leveraging the same tools that have been at my disposal throughout my time at Man GLG - including knowledge sharing across investment teams and our performance-driven platform using sophisticated risk analytics and cutting-edge technology - and with a flexible mandate across global markets, I believe this strategy is well positioned to capitalise on these investment opportunities."
Teun Johnston, CEO of Man GLG, added: "Cristian has had a long and distinguished career in risk arbitrage, the last six years of which have been spent at Man GLG. He has a consistent, disciplined and repeatable investment process that he has deployed for a number of years here. I look forward to seeing him continue his success, and am pleased we are now able to offer this strategy to investors as a standalone Ucits fund."
Man GLG has $30.8bn in AuM as of the end of September 2019.