French hedge fund manager Bernheim, Dreyfus & Co has named Bank of America Merrill Lynch (Baml) as an additional prime broker for its event-driven Diva Synergy and Diva Synergy Ucits funds, using the announcement to also predict an uptick in M&A deals.
Bernheim’s Diva Synergy team revealed it was “very bullish for 2012 and expects M&A activity to pick up steadily”.
Expectations for growing M&A activity have been circling for several weeks. Speaking to HFMWeek earlier this month, David Simon, founder, chief executive and managing member, of $300m New York-based hedge fund firm Twin Capital Management said he believes the second half of the year will be “huge” for transactions.
“People in Europe do not expect the continent to grow over the next three to five years, which means there is likely going to be a number of European firms coming over to the US to make acquisitions,” he added.