Bloomberg: Donald Pepper and Felix Lo on the Evolution of Event-Driven Investing

The article explores how a number of portfolio managers are increasingly choosing to run event-driven strategies outside large multi-manager platforms, supported by a more favourable environment for mergers and acquisitions and growing investor demand for specialist expertise.

Commenting on the sector, Donald Pepper highlighted that certain investment strategies can be difficult to manage within the structure of large pod-shop platforms, noting that merger arbitrage is not always a natural fit for that model. He also pointed to the advantages of independent firms in attracting long-term investors who can take a more patient approach during periods of volatility.

The article also highlights the growth of Felix Lo’s event-driven strategy at Trium Capital since its launch in 2021, with assets under management increasing significantly as investors have sought exposure to the strategy.

Against a backdrop of rising M&A activity, the article examines how specialist event-driven managers are positioning themselves to capitalise on an improving opportunities set across global markets.

The full Bloomberg article, including comments from Donald Pepper and Felix Lo, can be accessed here.