Stockholm (HedgeNordic) – Capital structure arbitrage hedge fund Tidan has strengthened its team with the hiring of Gustav Gistvik as a quantitative analyst. Having spent his entire career in various parts of the Brummer & Partners group, Gistvik joins Tidan’s ex-Brummer founding team that launched Tidan in October of last year.
Gustav Gistvik worked as a quantitative analyst at the now-closed Frost Asset Management and was part of the founding team launching Frost, a fixed-income relative-value fund operating in the Nordic markets. Before joining Frost in 2019, Gistvik worked under the leadership of Tidan’s CEO Gunnar Wiljander as a quant at Nektar Asset Management. Wiljander was the CEO of Nektar, one of Sweden’s oldest and largest hedge funds, for ten years. After graduating with a M.Sc. in applied physics and financial mathematics from The Institute of Technology at Linköping University in 2014, Gistvik joined Brummer Fund Services as a valuation analyst.
“Gustav Gistvik has joined us as a quantitative analyst. We are very happy to have Gustav in the Tidan team.”
“Gustav Gistvik has joined us as a quantitative analyst,” writes CIO Michael Falken, who co-launched Tidan alongside co-portfolio manager William Wilson, CEO Gunnar Wiljander, and cross-asset trader Aram Hussein. “We are very happy to have Gustav in the Tidan team.” Michael Falken and William Wilson have over 40 years of combined experience employing capital structure relative-value strategies, having employed a similar strategy within Brummer-backed Carve.
Tidan builds carefully-constructed market- and company-neutral packages of long and short positions to capitalize on mispricings and dislocations within a firm’s capital structure. The core idea of Tidan’s strategy focuses on going long undervalued securities linked to one part of the capital structure and simultaneously going short overvalued securities linked to another part of the capital structure. Tidan Fund, which oversees €88 million under management as of the end of January, edged down 1.0 percent in the turbulent month of January this year.