Conversion of two closed end funds into open fund

Hi,

I'm interviewing with a HF and as part of that process, I've been given a scenario where two closed end funds are closing and merging into the company that owns them, basically becoming an open end fund. I have to devise an investment report of sorts that would explore profitable opportunities from this transaction. I obviously cannot mention specifics, but I would greatly appreciate any general advice on what sort of investment possibilities could exist in such a situation, or links to any literature that would let me look it up myself. Thank you so much!

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