Cheyne Capital Appoints Chris Goekjian as Chief Investment Officer

Cheyne Capital Management (UK) LLP is pleased to announce the appointment of Chris Goekjian as partner and Chief Investment Officer ("CIO").

London, United Kingdom, April 17, 2009 --( Cheyne Capital Management (UK) LLP is pleased to announce the appointment of Chris Goekjian as partner and Chief Investment Officer ("CIO") reporting to Jonathan Lourie, Chief Executive. As CIO, Mr. Goekjian will have overall responsibility for risk management of all Cheyne funds and investment products, oversight of portfolio management teams and development of new investment products.

"Chris Goekjian's appointment is an important strategic addition to our investment and risk management capabilities at Cheyne and we are pleased that he is joining our strong team of investment professionals," said Jonathan Lourie, Chief Executive.

"Current market conditions are opening up interesting new opportunities and we are delighted to have someone with Chris's experience to help us execute the continuing development of our business," commented Stuart Fiertz, President.

Chris Goekjian said: "It is a great privilege to be joining Cheyne, one of the leading alternative asset managers in Europe. The firm has a reputation for innovation and 2009 is going to be a very exciting time to be at the forefront of change in the alternatives industry."

Mr. Goekjian has over 25 years experience in investment and risk management. His previous experience includes serving as head of the global fixed income division of Credit Suisse's investment bank where he oversaw more than $300 billion of trading positions. Most recently, Mr Goekjian was CEO and CIO of Altedge Capital (UK) Ltd, a London based fund of funds manager he founded in 2001 and whose business is intended to be integrated into Cheyne over the next six months, subject also to legal and regulatory approvals.

About Cheyne Capital
Cheyne Capital is one of Europe’s leading alternative asset managers. Cheyne Capital Management (UK) LLP is authorised and regulated by the UK FSA. Cheyne launched its first fund in 2000 and today manages net assets of more than $6 billion across a diversified range of products. The Cheyne group currently employs approximately 170 people with its primary offices in London, New York, and Bermuda.

About Chris Goekjian
Chris holds a BA from Hamilton College (1982) and an MA in Mathematics from the University of Michigan (1983). He spent 10 years at Credit Suisse's Investment Bank, where he was head of the Global Fixed Income Division (1999-2000) and a member of the Executive Board. Chris had overall responsibility for over $300 billion of trading positions and over 100 traders worldwide. From 1994-1998, Chris was CEO of Credit Suisse Financial Products, a global OTC derivative trading operation with over 800 employees worldwide. He was Global Head of Derivative Trading from 1990-1994. Before joining CSFB, Chris was a Managing Director at Bankers Trust Company (1983-1990) working in fixed income and equity derivatives trading in London, Tokyo and New York.

Cheyne capital
Caroline Villiers