Launches & Closures

Another US-based hedge fund manager reveals fund on platform


Westchester Capital Management, a New York-based merger arbitrage strategy specialist, is launching a new UCITS-compliant fund on the Bank of America Merrill Lynch platform.

The Westchester Merger Arbitrage UCITS Fund will launch on the MLIS platform on 1 July 2011. The fund, which tracks the firm’s offshore vehicle, known simply as The Merger Fund Ltd, is managed by Roy Behren and Michael Shannon.

Since Westchester was founded in 1980 its sole focus has been merger arbitrage strategies and it manages $5.2 billion through a number of different investment vehicles. The funds invest in publicly announced mergers, acquisitions, takeovers and other