Hedge Funds

Deephaven debuts event-driven fund with $250m

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Minnesota-based Deephaven Capital Management is set to launch an event-driven arbitrage fund in April with roughly $250 million of assets as part of a programme of carving out components of the firm's multi-strategy fund into separate funds.

The move down the multi-product route is being overseen by firm principal Colin Smith, who is likely to roll out other specialist strategies form the firm's main multi-strategy fund later this year.

Meanwhile Deephaven continues to grow in leaps and bounds. The firm's hedge fund assets have been bolstered of late by steep inflows combined with performance gains. Assets have surged by $600