John Donohoe, CEO of Carne Financial Services Group, has been named as an independent director to the board of the brand new Oddo Asset Management fund, called Orsay Merger Arbitrage.
The fund will follow an M&A arbitrage strategy, and will be managed by fund manager Christian Fleury, who headed the merger arbitrage team at Banque d’Orsay. The fund has been domiciled in Dublin as a QIF (Qualifying Investor Fund). It will be promoted by Oddo Asset Management and managed by a team of nine in Paris, an investment management unit that has been working together for 13 years.
The fund was officially launched on 1 June, with €100 million in seed capital from the Oddo Group, and is based on a strategy with a five year audited track record.
Said Donohoe: “We are very pleased to be able to provide Oddo Asset Management with the independent board-level oversight that is so important for responsible fund-level governance in today’s alternative investment industry. Market leaders like Oddo Asset Management are setting the standard for improved governance in the European alternative funds industry, and investors should welcome that.”
Guido Mundt, CEO of Oddo AM, commented: “We were very pleased to be able to appoint someone of John’s calibre and experience to the board of the new fund. We look forward to receiving the benefit of his insights going forward.”
Carne is expanding its panel of experienced independent directors that sit on the boards of funds in the Cayman Islands, Ireland and Luxembourg as demand for superior fund governance continues to grow.