Tycho Capital (“Tycho”), the research-led alternative investment specialist, and Athos Capital (“Athos”), the Asia-focused event-driven investment manager, today mark the fifth anniversary of the Tycho Athos Event Driven Fund (the “Fund”).

Success to date

Launched in April 2021, the Fund has established a strong track record over its first five years, delivering consistent, risk-adjusted returns through a differentiated approach to event-driven investing across Asia. The strategy has demonstrated resilience across varying market conditions, capitalising on opportunities in mergers & acquisitions, restructurings, shareholder activism and special situations across developed and emerging Asian markets. 2025 was a particularly strong year, with the Fund delivering a 9.3% return while the two prior years saw annual returns of 7.6% (2024) and 7.8% (2023). The Fund’s performance has compared favourably against global event-driven peers, supported by Athos’ deep regional expertise and disciplined risk management framework.

The partnership between Tycho and Athos combines Tycho’s research-led alternatives expertise and distribution capabilities with Athos’ specialist investment capabilities in Asia. Since inception, the Fund has grown assets under management to over $150m, reflecting increasing investor demand for uncorrelated strategies with exposure to Asian corporate events and structural inefficiencies.

A compelling backdrop for event-driven investing in Asia

Asia represents one of the most attractive and underexplored regions globally for event-driven investing. Structural shifts – including improved corporate governance, regulatory reform, increased shareholder activism and rising cross-border M&A activity – are creating a growing universe of events for managers like Athos to capitalise on.

At the same time, market inefficiencies remain pronounced relative to developed markets, providing fertile ground for skilled, research-driven managers. With many global investors still under-allocated to Asia and to event-driven strategies more broadly, the opportunity to capture uncorrelated alpha remains compelling.

The Tycho Athos Event Driven Fund is well positioned to benefit from these trends, combining deep regional expertise with a flexible, catalyst-driven approach designed to generate consistent returns across market cycles.

Georg Reutter, Partner and CEO, Tycho Capital, commented:

“Marking five years of the Tycho Athos Event Driven Fund is a significant milestone and a testament to the strength of our partnership with Athos. From launch, our objective was to bring a truly differentiated, specialist strategy to our investors, offering access to inefficiencies in Asian markets through a robust UCITS framework. The consistency of the Fund’s performance and allocator interest underlines both the quality of the strategy and the increasing relevance of event-driven investing in Asia within global portfolios.”

Fred Schulte-Hillen and Matthew Moskey, Co-Founders of Athos Capital, added:

“The success of the Fund to date reflects both the depth of the opportunity set in Asia and our team’s ability to navigate it with discipline and local insight. We remain excited about the pipeline of opportunities ahead and believe the next five years could be even more compelling as markets mature and event-driven activity continues to expand across the region.”