Cavenagh Capital Wins Pension Biz., To Move To Amsterdam

May 24 2010 | 11:58am ET

A big investment from a big pension fund means big changes for Cavenagh Capital.

The Singapore-based firm will move to Amsterdam after APG, the investment management arm of US$270 billion Dutch pension ABP, agreed to seed its new Asian macro fund. The Cavenagh Asian fund will debut on July 1 with US$40 million, HedgeWeek reports.

The new fund is targeting 15% to 20% returns investing in Asian interest rates and currencies.

Cavenagh was founded by former Dexion Capital product development and fundraising executive Andrew Gale and former DBS principal strategies chief and Abax Global Capital macro trader Lee Ka Shao.

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