San Francisco-based Cabezon Capital Manage-ment recently began trading its first hedge fund - a global macro strategy - with seed capital from three major investors. SAC Capital Advisors, the Getty Trust and HFR Asset Management provided a total of $60 million for the summer launch of Cabezon's Bretton Woods II (BWII). The strategy has a capacity of more than $1 billion.
Cabezon was founded by Michael Dooley and Michael Cagney. Dooley, a professor of economics at the University of California, Santa Cruz, served until recently as a senior adviser for global markets at Deutsche Bank. He has been the