In this episode, Suzy Gibbons, Partner and Head of Research, sits down with Zach Altschuler, Head of Merger Arbitrage, and Michael Chiaramonte, Deputy Head of Merger Arbitrage, to discuss our viewpoint that merger arbitrage is entering one of its most attractive periods since the Global Financial Crisis – with global M&A activity rebounding while regulatory review has become increasingly complex and fragmented. They explore how that regulatory complexity creates a "complexity premium" in merger arbitrage spreads, particularly for large transactions, offering what we believe to be attractive risk-adjusted returns for investors capable of conducting deep research and underwriting global processes.

The conversation dives deeper into the analysis beneath the recent white paper that Suzy, Zach and Michael co-authored, Merger Arbitrage: Opportunity in Regulatory Complexity.

Read the white paper here: Merger Arbitrage: Opportunity in Regulatory Complexity — Davidson Kempner

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We believe that merger arbitrage is entering an especially attractive period. Global M&A activity is rebounding while regulatory review has become increasingly complex and fragmented, conditions that may usher in a new golden era for sophisticated investors.

In our latest white paper, Merger Arbitrage: Opportunity in Regulatory Complexity, we explore the recovery in global M&A activity following a cyclical slowdown, and why larger transactions increasingly require review across multiple antitrust, foreign investment, national security, and sector-specific regimes. The white paper also considers what this means for merger arbitrage investors evaluating global, multi-jurisdictional transactions.

Read the white paper here: Merger Arbitrage: Opportunity in Regulatory Complexity — Davidson Kempner

DKCM Website: Home — Davidson Kempner

DKCM LinkedIn: LinkedIn — Davidson Kempner

In this episode, Suzy Gibbons, Partner and Head of Research, sits down with Tony Yoseloff, Managing Partner and Chief Investment Officer, to discuss how dislocations in private equity and direct lending – driven by higher interest rates, excessive leverage and delayed defaults – are creating what we view as a large and growing opportunity set. They explore how opportunistic credit can enhance portfolio construction while extending the “efficient frontier.”

The conversation dives deeper into the analysis beneath the recent white paper that Suzy and Tony co-authored, Optimizing the Efficient Frontier: Opportunistic Credit Amid a Capital Structure Reset.

Read the white paper here: Optimizing the Efficient Frontier: Opportunistic Credit Amid a Capital Structure Reset

DK Website: Home — Davidson Kempner

DK LinkedIn: LinkedIn — Davidson Kempner