Broadcom’s VMware Deal Aids 10% Surge for Melqart Hedge Fund

Michel Massoud’s Melqart hedge fund recorded one of its strongest ever months in November, helped by a bet on Broadcom Inc.’s takeover of software maker VMware Inc. that took an unexpectedly long 18 months to close.

His flagship Melqart Opportunities Fund made an estimated 10% during the month, according to a person with knowledge of the matter. About 2%, the most for any single position, came from merger arbitrage on the Broadcom deal, the person said, asking not to be identified because the details are private.

The conclusion of Broadcom’s takeover in November was a welcome bright spot ...