SilverPepper Merger Arbitrage Fund.
The mergers we avoid are more important than the mergers we invest in
The distinguishing characteristics of the SilverPepper Merger Arbitrage Fund:
- Steve Gerbel is an expert in merger arbitrage. Indeed, Chicago Capital Management, LLC, the firm that he founded in 1997, is a specialist in merger-arbitrage investing. Merger arbitrage has been his life’s focus for the past 20 years.
- Battle-tested track record of skillfully managing a substantially similar privately-offered, merger arbitrage hedge fund. Click here to view the related performance, risk and correlation data of the private fund in our Prospectus.
- Disciplined and intensive research process that combines multiple research sources, often looking for off-the-beaten-path resources that can inform their view on the probability of mergers being completed at the right price, and at the right time.
- Picky: We don’t invest in every deal. Instead, we scour the landscape for those mergers that have a high probability of closing, and closing on time.
- Appetite for smaller-capitalization companies, where regulatory and anti-trust hurdles are lower, yet where spreads may be wider because of less competition.
- Opportunistic use of leverage to grow economic exposure to merger investments. Leverage cuts both ways, however, magnifying both gains and losses.
- Cut positions quickly if questions arise about the successful completion of a merger, because when the bride is left at the altar, it makes for a bad event.
Dime after dime. Time after time.