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White Paper

Deal-contingent Hedging


With market volatility hitting the headlines and the geopolitical landscape seemingly changing every week, risk management is once more at the forefront of every CFO’s mind. One instrument that has become an established part of any financial risk management toolbox is the deal-contingent hedge.

Key takeaways

  • Learn more about deal-contingent hedging as a strategy for mitigating the FX risk associated with the time between the signing and closing of a cross-border M&A transaction.
  • Understand the mechanics of deal-contingent hedging.
  • Read the latest trends and examples of how deal-contingent hedges are applied in practice.

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About the author

  • Benoit Duhil de Benaze

    Managing Director
    Hedging and Capital Markets

    Private Equity | London

    Benoit Duhil de Benaze is a member of Chatham’s European Private Equity team. He helps clients with their risk management, from FX deal-contingent hedges in multibillion, cross-border M&A to large interest rate financing/ refinancing situations.


This material has been created by Chatham Financial Europe, Ltd. and is intended for a non-U.S. audience. Chatham Financial Europe, Ltd. is authorised and regulated by the Financial Conduct Authority of the United Kingdom with reference number 197251.