Highlights April saw a return to a more normalized merger arbitrage market following a volatile March fraught with regulatory pushback and increased uncertainty due to the regional banking crisis. A benefit of the elevated volatility and regulatory risk was a widening of arbitrage spreads. We continue to see favourable conditions for deal activity in the […]
Geoff Castle and Parul Garg host Sabrina Fox, Founder of Fox Legal Training. The group cover Sabrina’s road to her current position and starting her company, the benefits of “speaking legalese” as well as some cautionary tales and lessons learned. And before you jump to any conclusions, if you think that a discussion of legal covenants in credit might be […]
Greg Malpass, founder of Traction on Demand, joins Maria Pacella, managing partner of Pender Ventures for a lively discussion on his entrepreneurial journey. We are delighted to welcome Greg Malpass, founder of Traction on Demand, to the podcast studio, with host, Maria Pacella. With Traction on Demand having been acquired by SalesForce in 2022, Greg […]
Highlights The strongest contributors to the Fund were Paratek Pharmaceuticals Inc., Emergent BioSolutions Inc., Esperion Therapeutics Inc., and Bausch Health. Decliners in the Fund included McDermott International Inc., PHI Group Inc., and American Tire Distributors Inc. In April, the Fund added a new position in DISH Network Corporation which is building out an ambitious 5G […]
Highlights At the end of the quarter, small caps were trading at a valuation of 14.5x forward P/E in the S&P 600 Index compared to 19.0x for the S&P 500 Index – a 4.5x discount. This is a far cry from the wide premium that small caps traded at for the decade prior to 2020. […]
Highlights Several of our shorter duration holdings experienced solid gains in April, including secured bonds of Greystar Real Estate Partners LLC (private) and Life Time Group Holdings Inc. (NYSE: LTH). In banks, our focus was on AT1 securities issued by the two largest Canadian banks trading prices of 75% of par or lower. We established […]
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