Hedge Funds

Mellon adds event-driven to special sits fund


Mellon HBV Alternative Strategies has refocused the mandate of its U.S. special situations hedge fund launched last summer. The fund will now be able to take advantage of key event-driven opportunities in light of corporate events that may be in the pipeline due to business and regulatory developments. The fund is up 8.85% year-to-date.

The special situations fund is managed by a team headed up by Michael Hawthorne. The fund runs a portfolio of 20-30 investments within North America. Investments include positions in general corporate events such as spin-offs, aggressive arbitrage and distressed situations. The fund currently manages $17