"COVID was a great stress-test of our approach," Arena Investors' 2020 portfolio review states.
The letter, a copy of which ValueWalk has been review, goes on to add, "We were left in a position to quickly shift to playing offense once we had taken stock, battened down the hatches, and appropriately assessed the small impact to our book."
Read more hedge fund letters here
The firm seeks to acquire undervalued assets, predominantly privately negotiated and structured private convertible investments where it believes there is a clear path to value realization.
Since 2015, the firm has arranged more than 200 privately negotiated and structured private convertible investments, deploying a total of $2.5 billion.
At the end of 2020, it had exited...
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