Carlson’s Black Diamond Arbitrage Fund Adds 8.4% In Hot M&A Market

Carlson Capital’s Black Diamond Arbitrage returned 1.3% in December and 8.4% for 2021 as a whole, according to a copy of the fund’s full-year letter to investors, which ValueWalk has been able to review. Q4 2021 hedge fund letters, conferences and more Managed by Jesso Ho, the arbitrage strategy accounts for around $666 million of Carlson’s total firm hedge fund assets of $1.5 billion. In the fund’s fourth-quarter letter, it notes that arbitrage investments contributed, on a gross basis, 190 basis points to the fourth quarter returns, while special situations and other event-driven positions contributed thirty-six basis points. At the…