Bernheim, Dreyfus profits with pre-event/merger arb approach

Thu Oct 21, 2010

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Paris-based event-driven outfit Bernheim, Dreyfus & Co. has put in an excellent showing so far this year, returning 27.11% with its Diva Synergy Enhanced Fund. The market-neutral fund uses two sub-strategies, one focused on merger arbitrage and one concentrating on pre-event opportunities.

The firm is led by former Lazard M&A banker Lionel Melka and ex-Man Group trader Amit Shabi. The duo, who met when they began playing chess together, have known each other for around a decade and set up Bernheim, Dreyfus in 2006. The firm's third partner is Sebastien Dettmar, former head of quantitative research at LCF Rothschild...

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