Kite Lake Capital displays its edge with a consistent first year in event-driven
Mon Feb 27, 2012
Former Cheyne special situations manager Massi Khadjenouri and her new partners have racked up strong numbers in a poor period for event-driven strategies with their KL Special Opportunities fund
Kite Lake Capital Management, the London-based event-driven and
credit/distressed investing operation founded by former Cheyne
duo Massi Khadjenouri and Jan Lernout, has just passed its
first anniversary after racking up a distinctively strong set
of numbers in a year when many other European and global
event-related players have struggled.
|The Kite Lake Capital Management team
Over the 12 months since inception in February 2011 to the
end of January this year, the firm's KL Special Opportunities
Fund has returned 9.5% during a period when the event-driven
indices have been negative - and when several big names in the
event-driven, credit and distressed space have suffered some
The fund's first full-year performance was boosted by a 4%
return in January, in a month when most other hedge funds also
produced decent gains on the back of a very benign and bullish
global market environment.
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