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City of London

Tyrus’s Chedraoui Revamps Hedge Fund After Busted M&A Trade

  • Firm had suffered record loss on its NXP Semiconductors bet
  • Private equity resales, real estate credit now in focus

Tony Chedraoui is reinventing his hedge fund firm after a single supersized bet four years ago nearly led to its collapse.

The Monaco-based money manager has halved the amount that his core strategy at Tyrus Capital can take in, with less focus on deal wagers. Instead of chasing big market bets that risk getting stuck, Tyrus is now offering to take on private equity portfolios from investors seeking an early exit. It’s also building a real estate credit business and underwriting fundraising for struggling companies.