Carlson Capital Thinks The SPAC Boom May Be Over [Q1 Letter]

Carlson Capital’s Black Diamond Arbitrage Partners fund added 1.3% net fees in the first quarter of 2021, according to a copy of the firm’s March 2021 investor update, which ValueWalk has been able to review.

Q1 2021 hedge fund letters, conferences and more

At the end of the quarter, merger arbitrage investments represented 89% of the fund’s long market value. These positions contributed 167 basis points to first-quarter returns. Special situation investments represented 11% of the fund’s long market value at the end of the quarter. These positions contributed four basis points to returns in the first three months...