Deal-Making "Found Its Footing" In Q2, Says Carlson Capital's Jesse Ho - Hedge Fund Alpha (formerly ValueWalk Premium)

Deal-Making “Found Its Footing” In Q2, Says Carlson Capital’s Jesse Ho

Carlson Capital’s Black Diamond Arbitrage Partners was down 0.91% net for the second quarter, bringing its year-to-date return to -1.52%. Merger arbitrage investments detracted 24 basis points from the fund’s quarterly return, although special situations and other event-driven positions were responsible for a much larger detraction of 84 basis points. As of the end of June, 87% of the Black Diamond Arbitrage fund’s long market value consisted of merger investments. M&A Trends In his second-quarter letter to investors, which was obtained by ValueWalk, Event-Driven chief Jesse Ho said they “effectively navigated market volatility” during the second quarter. Although they fell...

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