The Oddo Alternative Investment Fund, which was launched on 1 June with €100m of seeded funds, will invest in companies which are takeover targets. The aim will be to then benefit from the difference between the share price and the price offered by the buyer.
Oddo said it hopes to raise €300m for the fund by the end of 2012, particularly from qualified European and Asian investors.
The fund will be managed by nine alternative investment experts, with Christian Fleury, head of M&A arbitrage strategy for Banque d’Orsay – acquired by Oddo & Cie last year – forming part of the team. Oddo’s Pierre Baudard has been appointed head of the new business.
Guido Mundt, CEO of Oddo AM: “This launch is a perfect example of the synergies unlocked through the tie-up with Banque d’Orsay. It also confirms our aim to accelerate our development by proposing new offers adapted to our clients.”
