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