Tyrus Capital, the hedge fund set to be launched this week by former Deephaven manager Tony Chedraoui, has raised more than $800m from investors.

The deadline for initial investor subscriptions to Tyrus closed on Friday evening, when the fundâ??s management was still waiting on a final figure. According to people close to the fund, interest far exceeded expectations.

Tyrus had been expected to raise about $500m â?? which would have been sufficient to make it the largest hedge fund launch this year.

The fund is understood to be expecting a further $300m in subscriptions this month and could end the year with $1.4bn under management.

Tyrus will specialise in event-driven strategies that seek to make money as a result of specific corporate events or announcements, such as rights issues, mergers or management changes.