Sand Grove Capital Management

Simon Davies is the Founder and Chief Investment Officer, controlling portfolio construction and risk. Davies built the firm's event-driven approach during a decade at TCI Fund Management, where he was a partner focused on merger arbitrage and special situations. The investment team operates a flat structure with Davies holding ultimate decision-making authority on all positions.

The firm sources opportunities primarily through announced M&A globally, screening for transactions where regulatory, antitrust, or financing risk creates a mispriced spread. Sourcing relies on public filings, regulatory dockets, and legal analysis rather than intermediary-dependent origination. The firm's track record in complex cross-border deals gives it a repeatable presence in situations requiring detailed jurisdictional expertise.

Sand Grove is a dedicated event-driven and merger arbitrage manager. The firm trades announced mergers, acquisitions, and corporate events, with additional capacity in special situations and opportunistic credit. The strategy is concentrated and research-intensive, avoiding the diversified multi-strategy approach common at larger platform hedge funds.

While merger arbitrage is the core strategy, the firm also allocates to special situations, distressed credit, and other hard-catalyst event trades. The mandate permits the investment team to pursue any situation where a defined corporate event is expected to close a valuation gap, including litigation-linked outcomes and restructuring plays.

Sand Grove Capital Management operates as a limited liability partnership regulated by the FCA in the United Kingdom. The firm manages capital exclusively for institutional investors and has historically maintained a capacity-constrained approach to protect strategy returns. Whether the fund is currently open to new subscriptions is a matter of private fundraising status and not publicly disclosed.