Caravel is a multi-strategy hedge fund founded in 2016 by two veterans of the Canadian alternative asset management industry. Caravel’s focus is on investing primarily event-driven and uncorrelated strategies while managing tail risks and preserving its partners’ capital. The fund targets annualized net returns in the 15-20% range while managing its monthly volatility so its partners can sleep soundly at night. The fund relies on its founding principles and self-imposed constraints, which are codified in its offering memorandum, to help it achieve these goals. Caravel is proud of its industry-leading liquidity terms and partner protections to maximize the benefits of its offering to external investors. Caravel’s employees are the largest investors in the fund, ensuring evergreen alignment between the fund’s managers and its outside partners.