2019 December CAD
Dear Partners,For the month of December, The Caravel Capital Fund Ltd appreciated 1.39% bringing the total return for 2019 to 2.76%. In December we were pleased to see two overdue merger arbitrage deals close. One deal was repriced and cost us over 2% in 2019 and another had been delayed by three months causing a […]
2019 December USD
2019 November USD
2019 November CAD
Dear Partners, For the month of November, the fund posted a -2.57% return. As we mentioned in our previous letter, we were waiting for a stock in Australia to resume trading following the termination of a merger agreement. Substantially all conditions of the agreement were met, but at the eleventh hour the target’s auditors reversed […]