Cheyne Capital European Event Driven Fund Raises Over $100 Million

Cheyne Capital Management (UK) LLP Stornoway House 13 Cleveland Row London SW1A 1DH Tel: +44 (0)20 7968 7450 Fax: +44 (0)20 7968 7650 PRESS RELEASE CHEYNE EUROPEAN EVENT DRIVEN FUND RAISES OVER $100 MILLION London, 20 September 2010 - Cheyne Capital... More

Cheyne Capital Management (UK) LLP Stornoway House 13 Cleveland Row London SW1A 1DH Tel: +44 (0)20 7968 7450 Fax: +44 (0)20 7968 7650 PRESS RELEASE CHEYNE EUROPEAN EVENT DRIVEN FUND RAISES OVER $100 MILLION London, 20 September 2010 - Cheyne Capital Management (UK) LLP (“Cheyne Capital”) is pleased to announce that the Cheyne European Event Driven Fund has successfully exceeded its first round AUM target of $100 mill by August 1st, raising the majority of the capital from new and existing investors in just two months. The fund has delivered 11 months of consecutive positive performance since launch in October 2009 including during the difficult months of May and June and credits its performance to its European location and specific mid cap expertise. The firm continues to see opportunity in the liquid European equity and credit spaces where a lack of other European based funds and proprietary desks has reduced the competitive environment. The fund invests predominantly in liquid har Less