Stamford, Conn. convertible arbitrageur TQA Investments has seized on the closure last month of New York-based West Broadway Partners as a chance to instantly diversify itself into other areas of arbitrage.
TQA in March recruited an entire three-man team of event-driven and arbitrage specialists led by Dwight Eyrick. The group had been with West Broadway until March, when the firm closed after a 12-year run and founder Bruce Liptak retired.
The addition of the ex-West Broadwayites marks something of a turning point for TQA, a $750 million manager. In March, Eyrick and his team began trading TQA's first event-driven