HedgeF016 · Vintage 2014Open
Caspian Event-Driven
Caspian Capital
Announced-deal merger arbitrage, with a tilt to complex regulatory and cross-border situations.
Event DrivenMerger ArbitrageUSEuropeArticle 6
Performance · since fund launch
Cumulative net return
8.6%
since inception
Compare with
| Fund vs indexes | 1Y | 3Y | 5Y | Per year since launch | Yearly volatility | Largest drop |
|---|---|---|---|---|---|---|
| Caspian Event-Driven | +12.4% | +7.1% | — | +0.7% | 6.0% | -11.9% |
| HFRI Fund Weighted Composite(illustrative) | +4.5% fund +7.9pp | +12.1% fund -5.0pp | — | +4.8% fund -4.0pp | 3.9% | -4.0% |
| S&P 500 Total Return | +26.3% fund -13.9pp | +33.1% fund -26.0pp | — | +19.7% fund -18.9pp | 18.2% | -23.9% |
| STOXX Europe 600 | +12.7% fund -0.3pp | +20.0% fund -13.0pp | — | +11.4% fund -10.6pp | 13.7% | -20.5% |
Sources: HFRI FWC — Illustrative mock data · S&P 500 TR — Yahoo Finance (^SP500TR) · STOXX 600 — Yahoo Finance (^STOXX, price index). Index data aligned to the fund's quarter ends.
| Quarter | Quarterly return | Sharpe |
|---|---|---|
| 2022 Q1 | -0.43% | 1.71 |
| 2022 Q2 | -4.20% | 1.67 |
| 2022 Q3 | -4.08% | 1.62 |
| 2022 Q4 | -2.89% | 1.31 |
| 2023 Q1 | +3.58% | 1.63 |
| 2023 Q2 | +1.61% | 1.37 |
| 2023 Q3 | +2.90% | 1.32 |
| 2023 Q4 | +3.80% | 1.42 |
Terms
Target fund size£1.2bn
Current AUM£950m
Min ticket£5m
Largest investment accepted£100m
Target net IRR8–11%
Minimum time investors must stay in1 year
Management fee1.50%
Carry / performance20%
ESG / SFDRArticle 6
Liquidity
Monthly liquidity, 30-day notice.
Investment highlights
- 20+ year track record across founders' careers
Top 5 holdings
Largest positions · % of fund · simulated
- Highgate Realty12.5%
- Junction Foods12.2%
- Sterling Bancorp12.1%
- Halcyon Energy6.7%
- Redwood Capital4.3%