VH Standard Asset Management

In this month's September letter, we gave an update on the Capri-Tapestry transaction that's heading into closing arguments today, as well as highlights from our position in the Hawaiian Airlines-Alaska Airlines transaction. Read our full letter below. To receive our monthly letter when it's first released, sign up here: https://lnkd.in/eqXPdVxv

"Out of these 124 concluded transactions [since inception], we’ve invested in 102 of them, with 97 of our invested-in transactions ultimately being completed." Read our letter below: To receive our monthly letter when it's first released, sign up here: https://lnkd.in/eqXPdVxv

Short one this month, writing about taking a long-term approach to our merger arb strategy. "For us, having a concrete strategy in merger arbitrage that acts as our North Star during these periods keeps us focused" To receive our factsheet the day it comes out, prior to releasing on social media, sign up here: https://lnkd.in/eqXPdVxv Read our June '24 letter below:

"For us in merger arbitrage, there might be opportunity when regulators believe society’s ability to buy a specific set of brand name handbags should be protected, as if these brand name handbags are a necessity to a functioning civilization." Read the rest of our letter below: To receive our factsheet the day it comes out, sign up here: https://eepurl.com/iDJ-mc

Although the year has been difficult for merger arbs, it's good to see deals started to close again during March. Here's our letter from April that went out to investors a few weeks ago. To receive the factsheet the day it comes out, sign up here: https://eepurl.com/iDJ-mc

Great article from Bloomberg's Yiqin Shen and Miles Weiss on the debut of two new standalone merger arb funds. Similar to these two new funds, we're optimistic that the future of M&A will be robust as dealmakers, acquirors, and sellers start to find some middle ground. As the authors write, "Private equity managers are sitting on trillions of dollars in dry powder, would-be corporate acquirers have regained some confidence in the economy and lawyers are figuring out how to navigate the Biden administration’s antitrust efforts." We think there's a significant backlog of deals waiting to move forward after all the uncertainty that 2023 brought. What do you think? https://lnkd.in/ekcFVydF

Here’s last month’s March letter to investors (results as of February '24). It was released a few weeks ago, but only went out to individuals on our mailing list. To receive our letters when they get released, sign up here:?https://eepurl.com/iDJ-mc

Not the month we were looking to start the year with, but we find the current attractiveness of merger arbitrage today to be so compelling that we increased our investment in the fund. Read our letter to see why.?

Looking for alternative investment strategies that aren't correlated to the general public markets? This article from Peter Chiappinelli at GMO explains the benefits of merger arbitrage as an investment strategy and how it can be best used in a properly structured portfolio. Written in 2017, it still holds true today! https://lnkd.in/eRY4msQk

With 2023 coming to a close, here’s our last Letter to Our Investors for the year. We’re very pleased to be able to say that we had positive net returns of +7.63% for investors since our inception in July ‘23. In this letter, we focus on how one can “compound completed deals” with a Merger Arbitrage strategy, as well as some thoughts on what’s more important between an investment strategy and an investment manager. Let us know your thoughts below. All data is as of December 31, 2023.