1.0Gestion de capital PenderFund ltéehttps://penderfund.com/frEvan Warburtonhttps://penderfund.com/fr/author/ewarburton/rich600338<blockquote class="wp-embedded-content" data-secret="Tx1P1eAtQE"><a href="https://penderfund.com/fr/commentaries/pender-alternative-arbitrage-march-2023/">Pender Alternative Arbitrage Fund – March 2023</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://penderfund.com/fr/commentaries/pender-alternative-arbitrage-march-2023/embed/#?secret=Tx1P1eAtQE" width="600" height="338" title="« Pender Alternative Arbitrage Fund – March 2023 » — PenderFund Capital Management" data-secret="Tx1P1eAtQE" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script> /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://penderfund.com/wp-includes/js/wp-embed.min.js </script>https://penderfund.com/wp-content/uploads/2025/09/PAAF-768x361.png600282Highlights A positive development during the month was banks returning to provide buyout debt financing. March was the peak month of SPAC maturities for 2023 with the industry now fully lapping the peak of the 2020/21 SPAC bubble by the typical two-year maturity date. As the size of the SPAC sector and the number of […]