Westchester Capital Management, LLC

Westchester Capital Management, LLC
Last update 2024-02-18 270 Stocks (61 new)
Value $2.68 Bil Turnover 43 %
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Westchester Capital Management, LLC Profile

Westchester Capital Management is an investment management company based out of Valhalla, New York. The company was founded in 1980 and would launch a variety of new funds as it grew, including a domestic hedge fund in 1987, the first mutual fund dedicated to merger arbitrage in 1989, and an offshore hedge fund in 1996. The company has most recently launched its MLIS Westchester Capital Merger Arbitrage UCITS Fund in 2011 and an alternatives fund in 2014. The company has a team of 15 employees with approximately half of them being investment professionals. Westchester Capital Management utilizes external research, using fundamental and quantitative analysis to make its investment decisions in the public equity and fixed income markets of the U.S. The company focuses on “consistently high risk-adjusted absolute returns with low market correlation” and has evaluated over 10,000 potential transactions and invested in over 4,000 reorganizations. Westchester Capital Management invests most heavily in the consumer discretionary sector, which alone makes up over a quarter of its total allocated assets, and also invests in the finance, materials, information technology, energy, industrials, and health care sectors, among others to a lesser degree, in order of decreasing allocation. The company currently has over $5.7 billion in total assets under management spread across 5 accounts, all of which are discretionary. Both of its total number of held accounts and total assets under management have been increasing in recent years with its total assets under management growing from $4 billion three years ago to its current amount today. Westchester Capital Management mainly caters to investment companies, which alone makes up over three quarters of its client base, and also provides services to pooled investment vehicles. The company currently offers its Merger Arbitrage Fund to both investors and institutional clients and WCIM Alternatives: Event Driven Fund.
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