Davidson Kempner Makes the Most of Multistrategy Model

The New York–based firm posted gains in the first half of the year, thanks to savvy bets on mergers, credit and distressed securities.

A summary of Davidson Kempner Capital Management’s portfolio in the second quarter reveals that the firm made money in each of the first six months this year, a feat few funds can claim in this roller-coaster year for many of the world’s markets, according to a document offering a rare peek into the historically opaque firm.

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