Liquid Alternatives: Picton Mahoney Acquires Five Funds from Vertex One

October 23, 2019 | Liquid Alternatives, News

Picton Mahoney Asset Management will acquire a clutch of alternative investment funds from Vancouver-based Vertex One Asset Management Inc.

Picton Mahoney will henceforth function as the investment and portfolio manager of the following funds, with strategies given alongside.

  • The Vertex Liquid Alternative Fund (VLAF) – Arbitrage strategies
  • Vertex Liquid Alternative Fund Plus – Leveraged version of the Vertex Liquid Alternative Fund (VLAF)
  • The Vertex Bond Alpha Fund – Derivatives-based play on FTSE TMX Canada Universe Bond Index alongside investment in VLAF
  • Vertex Arbitrage Fund – Merger arbitrage
  • Vertex Arbitrage Fund Plus – Leveraged merger arbitrage

Existing fund managers

The above funds have approximately $ 380 million of assets under management. Craig Chilton and Tom Savage manage these funds. Further, both managers have extensive experience in event-driven arbitrage and alternative strategies. Also, both previously worked at CIBC World Markets.

However, Post deal closure, these managers are expected to join the new owners and continue running the funds.

Vertex one will conduct a special meeting of the unitholders of all the funds on November 28, 2019, in connection with the proposed sale of funds.

Fund management boutique with 15 years of experience

Founded in 2004 and 100% employee-owned, Picton Mahoney is a portfolio management boutique. The firm specializes in differentiated investment solutions and rules-based volatility management. A pioneer of Authentic Hedge investment principles and practices in Canada, the firm currently has over $ 7.4 billion in assets under management.

Moreover, on completion of all formalities and approvals, the above five funds will undergo a name change to reflect the Picton Mahoney brand.

[Related Story: IndexIQ And Nasdaq Dorsey Wright Tie Up to Offer A Liquid Alternatives ETF Model     ]

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