Cavenagh hedge fund gets Dutch pension money, moves to Europe

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NETHERLANDS - Cavenagh Capital, set up last year by former Morgan Stanley and DBS Holdings Ltd. managers in Singapore, will start a new macro hedge fund in July after getting money from the biggest Dutch pension fund.

Andrew Gale and Lee Ka Shao moved to Amsterdam this month after getting a three-year seeding commitment from APG, which manages the assets of Heerlen, Netherlands-based Stichting Pensioenfonds ABP,...

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