Longfellow Investment Management Co. LLC (LIM) is pleased to have received the “Event driven under $1bn” award at the HFM US Performance Awards which took place virtually on November 5. LIM’s Arbitrage Strategy was selected ahead of eight other finalists in the category. LIM also was shortlisted for “Newcomer – equity” for its Concentrated SPAC Strategy along with seven other firms out of a field of 20 entrants. This event was hosted by HFM, a data platform for the investment management industry, in conjunction with Cowen, the event sponsor.
For more than 30 years, LIM has applied a catalyst-driven investment approach across merger arbitrage, special purpose acquisition companies and fixed income as part of its flagship Arbitrage Strategy. Andrew Bail, the lead portfolio manager for LIM’s Arbitrage Strategy, accepted the award on behalf of LIM.
“We are proud to receive recognition for Andrew and our team and appreciate the clients who make this possible,” said Barbara McKenna, Managing Principal. “This recognition confirms our commitment to delivering consistent performance by focusing on risk evaluation.”
According to HFM, the judges, an expert panel of leading institutional and private investors and investment consultants, focus on absolute performance as well as standard deviation of returns and outperformance of the relevant HFM benchmark. They also take into consideration the relative AUM, nature of the investment strategy, track-records, other supporting materials, and professional knowledge they have about shortlisted funds to come to their decisions.
No fees were paid to be considered for this award. Twenty-one firms submitted applications for the award in the “Event driven under $1bn” category. LIM was the sole winner of the category (representing 5% of the advisers in the category).
More information on the awards, selection process, and criteria by which the rating was based can be found here.