Tyrus Capital's concentrated portfolio in GVT Holding raises eyebrows

December 21st, 2009
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Tony Chedraoui, former head of global event-driven investments at Deephaven Capital Management, launched his own fund Tyrus Capital in October with over $800 million, making it one of the largest hedge fund launches in 2009. Two months after the fund’s launch, Tyrus Capital sold a large stake of GVT Holding, a telecommunications operator based in Brazil, to French conglomerate Vivendi. According to the Wall Street Journal, the sale was valued at about $800 million a share and corresponded to almost 20% of GVT.

Mr. Chedraoui’s focus on the Brazilian stock stands out among usual hedge fund strategies that diversify risk. In November of 2009 Tyrus held a 6.6% stake in GVT with additional exposure from call options. The company was involved in a bidding war between Vivendi and Spanish operator Telefonica for months after Vivendi’s initial offering in September.

Before joining Deephaven in 2006, Mr. Chedraoui was a director of mergers and acquisitions at Lehman Brothers.
For Detailed Investor Profiles on these Investors, click below:
Tyrus Capital LLP
Deephaven Capital Management*
Related People: Colin Smith*; Irvin R. Kessler*; Matthew Nunn*; Shailesh Vasundhra*; Shawn Bergerson*; Tony Chedraoui; Tony Chedraoui*
Related Entities: Deephaven Credit Opportunities*; Deephaven Event Fund*; Deephaven Global Value Partners*; Deephaven Global*; Deephaven International*; Deephaven Market Neutral*; Knight Capital Group Inc*; Deephaven Capital*; Stark Investments; Tyrus Capital
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

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