Fund launches & closures

IMQubator adds more managers

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IMQubator, the seeding platform backed by APG, has allocated to two more hedge funds in Europe.

Most recent investments are Cavenagh Capital, an Asian macro fund run by former Morgan Stanley and DBS managers Andrew Gale and Lee Ka Shao, and mCapital, a European and Asian special situations fund run by former Merrill Lynch principal credit investment head Mark Devonshire.

Both funds have received seed capital of $30 million, locked in for three years. The moves take IMQubator's hedge fund investments to four, the other two being Branta Solutions and Callanish Partners, a systematic global macro fund run by former