Fund launches & closures Hedge Funds

GLG unveils fund to exploit M&A uptick

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The fund will focus on merger arbitrage, balance-sheet restructuring and opportunistic event-driven investments.

GLG Partners has launched a fund to take advantage of the expected upturn in merger and acquisition activity this year. The new event-driven fund is managed by Kaveh Sheibani and Julian Harvey Wood.

The fund launched internally on Nov. 1 with firm capital, and is now being made available to investors. It will focus on merger arbitrage, balance-sheet restructuring and opportunistic event-driven investments. The fund is understood to draw from Sheibani and Harvey Wood’s previous strategy, which they ran at London-based boutique Pendragon Capital before joining GLG early last year. Specifics about the new fund could not be