Balyasny, Schonfeld Cut Merger Arb Traders Amid Deal Chaos [BNN Bloomberg (Canada)]
Tapestry, Inc. (TPR)
Last tapestry, inc. earnings: 4/30 06:45 am
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Source: BNN Bloomberg
Chicago-based Balyasny is closing a merger arbitrage team led by Adam Schwartz, who is leaving the firm, the people said, asking not to be identified discussing confidential information. Balyasny continues to run a number of other merger arbitrage teams and is growing the broader business, one of the people said. Schwartz and a representative for Balyasny declined to comment. Meanwhile, New York-based Schonfeld has parted ways with portfolio manager Eric Fritz, who ran merger arbitrage investments in the US, according to the people. Merger arbitrage remains an important strategy for Schonfeld, one of the people said. A representative for Schonfeld declined to comment. Fritz couldn't be reached for comment. Merger arbitrage and event-driven traders specialize in making bets on likely and announced M&A situations, looking to benefit on share price moves around these transactions. Eking out gains from these strategies has been harder this year amid the sluggish pace of dealmaking an
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TPR
Earnings
- 5/9/24 - Beat
TPR
Sec Filings
- 6/3/24 - Form 4
- 5/31/24 - Form SD
- 5/29/24 - Form 4
- TPR's page on the SEC website