Although European bank de-leveraging has caused headaches for many investors, for others such as Oceanwood Capital Management, it has been a rich source of opportunity.

Voted winner of the Best Hedge Fund Manager in Event-Driven and Distressed category, Oceanwood's event-driven Global Opportunities Master fund returned 25.2% in 2012 and 22% in 2013. It has outperformed both the HFI Event-Driven (Total) index and the Euro Stoxx 50, which returned 12.5% and 13.5% in 2013, respectively.