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BlackRock is rolling out its first UCITS event-driven strategy aimed at European institutional and retail investors - the BlackRock Strategic Funds Global Event Driven Fund - which will tap into the growing demand for liquid alternatives and for strategies that are focused on corporate events.
The new strategy - which is managed by Mark McKenna, global head of event-driven equity at BlackRock - will take long and short positions across a range of industries and sectors in developed markets.
Specifically, the fund will target opportunities across a broad spectrum of corporate events, including announced mergers, spin-offs and restructurings, synergistic acquisitions and collaborative activism using long, synthetic long and synthetic short investments.
McKenna, who leads a seven-strong team at BlackRock that specialises in both...