Bernheim Dreyfus launching new Ucits M&A Fund

The Diva Synergy (Ucits) fund will be regulated by the French Financial Authority (Autorité des marchés financiers) and will replicate the event-driven Diva Synergy Fund, which has a successful 4-year track record.

Amit Shabi, partner at Bernheim Dreyfus, expects the volume of M&A activity will continue to rise through 2011 creating an exceptional range of investment opportunities. “M&A picked up momentum in 2010 and continues to grow rapidly. We’re forecasting global deal activity to increase by as much as 40% this year, by comparison to 2010’’. The Diva Synergy (Ucits) fund started investing in June 1st with initial committed capital of $10mln. The target is to manage $100mln within 1 year.

Explaining the decision to launch a UCITS product Shabi said, ‘’During the financial crisis it became clear that many hedge funds were not in line with investors’ expectations in terms of liquidity and transparency. The Diva Synergy (Ucits) fund will offer transparency and liquidity as we respond to investor requirements for products which are compliant with the EU Directive.’’.

Bernheim, Dreyfus & Co. Paris-based Bernheim, Dreyfus & Co was founded in 2006 as an alternative investment firm focusing on M&A-related strategies, managing an event driven hedge fund – Diva Synergy.

Diva Synergy is managed by Amit Shabi and Lionel Melka. Lionel Melka has 10 years’ of experience as an M&A advisor for blue chip clients in prestigious banks such as Lazard, Calyon and Rothschild. He has been involved in more than 20 major transactions totaling more than $50 billion. Amit Shabi has a solid experience in asset management and capital markets with Rothschild, the Man Group and others.