The new mutual fund is a liquid alternative offering and will be managed by KC Nelson, who spearheads the Driehaus long/short credit team.
Event-driven trades often exist because of the complexity of the capital structure, the nontraditional nature of the investment opportunities, or the unwillingness of investors to participate in trades with binary outcomes, Nelson said.
"We believe this creates opportunities for positive asymmetric returns with low correlations to the equity and credit markets, Nelson added.
"By combining the credit, equity and derivatives resources across our firm, we’ll identify opportunities globally to source mispricings in long, short and arbitrage trades based on hard catalysts, such as product launches, earnings releases, restructurings, and corporate actions."
The wealth manager said that the investors will have access to a liquid and transparent vehicle for a strategy that delivers a distinguished market exposure.
Established in 1982 and operating as a privately-held, independent investment adviser, Driehaus Capital Management had $10.3bn in assets under management as of 31 July 2013.
