Och-Ziff, Merrill Lynch Launch New UCITS Fund

Joseph Milton

13 April 2011

Bank of America Merrill Lynch and New York-based Och-Ziff Capital Management Group yesterday launched a new European Multi Strategy UCITS fund in a partnership aimed at capitalising on the latter’s experience in European markets.

The fund, led by Och-Ziff’s head of European investments Michael Cohen, is aimed at exploiting pricing inefficiencies in the equity and debt securities of European companies through long/short equity, special situations, merger arbitrage, convertible/derivative arbitrage and credit strategies, the firm said in a statement.

The fund is a sub-fund of Merrill Lynch Investment Solutions, a regulated, Luxembourg-based vehicle and carries a minimum retail investment threshold of $1,000. While US investors are not eligible, the fund will be marketed to those in the UK, Ireland, Germany, Austria, Spain, Italy, Luxembourg, Sweden, Denmark and the Netherlands.