Event / Structured Trades
Key Features
The Event Strategy aims to be independent of the general economic environment and to produce returns that are correlated to specific event trades rather than to broader markets.
The Event Strategy is focused on generating attractive risk-adjusted returns through an event-driven mentality on the basis of two differentiated pillars which have been best performing over the years:
Proprietary Structured Trades
- Since inception, Tyrus Capital has invested more than $3.5bn in proprietary Structured Trades
- The strategy looks to finance complex but rewarding turnarounds in structures that offer downside protection, yield and equity optionality
Special Arbitrage Opportunities
- Wide range, spanning across engineered trades with Delta One hedges, to Dutch auctions and to other arbitrage situations, which are sourced and structured to limit downside risk
Additional Strategies
Value from Hard Catalyst
- Seeks to capture value creation from deals that take time to be recognised by the market
- Positions are less correlated to the market for a specific period of time
- Includes takeovers, spin-offs, deleveraging, restructurings, privatisations, share buy backs, capital raising, rights issues and other transformational deals
Mergers & Acquisitions
- Seeks to identify situations with optionality while avoiding plain vanilla traditional spreads with large downside
Dislocation Trades
- Broken deals
- Transformational events
- Technical factors
Portfolio Manager
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Tony Chedraoui
Founder, CIO & CEO
Tony founded Tyrus Capital in 2009. Prior to this, Tony was Global Head of Event-Driven Strategies at Deephaven Capital Management. Before joining Deephaven in 2006, Tony spent six and a half years at Lehman Brothers, firstly in investment banking where he focused on mergers and acquisitions and then as a proprietary trader managing an event-driven strategy. In September 2018, Tony was appointed as a member of the Hautes Etudes Commerciales ('HEC') Paris International Advisory Board, providing advice and guidance to HEC and assisting in its strategic development. Tony has an MSc in Finance from the HEC in France and a BSc in Computer and Communication Engineering from the American University of Beirut.