By Andrei Skvarsky.
Paris-based asset management firm Carmignac has enlarged its alternative investment team by hiring Fabienne Cretin-Fumeron and Stéphane Dieudonné from Candriam, a subsidiary of U.S. insurance company New York Life, as merger arbitrage managers.
Cretin-Fumeron and Dieudonné both have 18-year experience in merger arbitrage, also known as risk arbitrage, a risk avoidance investment strategy to simultaneously buy out merging companies.
They are going to run two merger arbitrage funds to be launched by Carmignac before mid-2023, according to a statement from the French firm.
Cretin-Fumeron and Dieudonné held merger arbitrage roles at Candriam, which is an asset manager headquartered in Brussels, and earlier on at Paris-headquartered asset management companies ADI and OFI. OFI acquired ADI in 2009.
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