Hedge Funds

Kite Lake Capital displays its edge with a consistent first year in event-driven


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

The Kite Lake Capital Management team
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.

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 –