The New Zealand sovereign wealth fund (NZ Super Fund) has appointed a subsidiary of Ramius LLC to manage a US$200 million merger arbitrage mandate focused on investment opportunities arising through merger and acquisition transactions, predominately in listed companies in North America and Europe.
This is the NZ Super Fund’s first investment in merger arbitrage, which chief investment officer Matt Whineray says is designed to achieve a premium return over the long term. “The NZ Super Fund’s long investment horizon means it is in a good position to take advantage of the returns offered by merger arbitrage. Ramius’s specialist skills and track record complement our investment priorities and return objectives,” he adds.
The appointment is effective from today, March.