Performance

Cheyne exceeds $100m target for European event-driven fund

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Cheyne Capital Management has announced strong inflows into its one-year-old European event-driven fund, which the firm said had exceeded its first-round target for asset-raising of $100 million by the start of August.

Cheyne said the majority of capital had been raised in just two months, with allocations to the Cheyne European Event Driven Fund coming from a combination of new and existing investors with the firm.

The fund, which is managed by Simon Davies and Michel Massoud, has delivered 11 months of consecutive positive performance since launching in October 2009 – and delivered positive performance in the difficult months of