Hedge Fund Melqart Opens After 3 Years to Raise $500 Million (1)

Michel Massoud’s Melqart Asset Management has reopened to investors to raise up to $500 million as a surge in dealmaking creates fertile hunting ground for the event-driven hedge fund.

The London-based firm is accepting new cash after a gap of nearly three years, according to a person familiar with the matter. Melqart’s assets have grown to $1.7 billion from just $34 million when it started in 2015, the person said, asking not to be identified because the details are private.

Massoud is raising new money as investors start returning to the industry and as mergers and acquisitions stage a ...