Laffitte Capital Management is a Paris-based asset management company set up by four former proprietary traders who worked together for almost two decades in a major French banking group. In 2007, after 15 years of profitability, the team decided to offer their expertise to clients and to open their own alternative funds. The team has also a strong experience in Equity Finance and short selling. BNP Paribas Investment Partners invested in 10% stake of the company.
The Laffitte Risk Arbitrage Ucits Fund is focused on Merger Arbitrage (announced deals) in Europe and in the United States. This Fund is regulated by the French Markets regulator which is a guarantee of risk control and proctection for the investors. Their second fund, Laffitte Equity Arbitrage, is an event driven fund focused on special situations (mainly pre-merger), merger arbitrage and capital structure arbitrage (share class, right issues, holding arbitrage).
Laffitte's dynamic approach to merger arbitrage combines discretionary and quantitative elements, resulting in positive returns of their flagship fund each year since the 2007 launch. Learn in this video:
- The Five Types of Risk in Merger Spreads
- Unique Edge: Laffitte's proprietary database with over 1700 deals in which the team had positions in the past
- Why index arbitrage has become attractive again
- Why certain investment talent relocates from London to Paris
- China's subtle strategy: Buying bonds to clear the way for acquisitions
- Outlook: Markets display all three vital ingredients for a new M&A cycle
David Lenfant is a partner and in charge of business development at Laffitte Capital. He has 16 years experience in Finance. He worked for Citibank as a sales warrant, then moved to CIC to create CIC warrants and sell options strategies and Convertible Bonds. In 1998, he joined Eric Robbe and Arnaud Yvinec and developed delta one trading in the rest of Europe, especially in Southern Europe. David graduated from the Business School Euromed Marseille and HEC Montreal. He has a Masters in Financial Markets from Paris Dauphine University.
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Laffitte Capital Management is a Paris-based asset management company set up by four former proprietary traders who worked together for almost two decades in a major French banking group. In 2007, after 15 years of profitability, the team decided to offer their expertise to clients and to open their own alternative funds. The team has also a strong experience in Equity Finance and short selling. BNP Paribas Investment Partners invested in 10% stake of the company.
The Laffitte Risk Arbitrage Ucits Fund is focused on Merger Arbitra
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