Caxton Associates Partners with Wadhwani Asset Management

NEW YORK and LONDON, April 27, 2011 - Caxton Associates, a New York-based trading and investment firm with
trading offices in London and Sydney, announced today that it has signed an
agreement to partner with London-based Wadhwani Asset Management. Under the
agreement, Caxton will take a minority interest in Wadhwani Asset Management
and the firm's founder and CEO, Dr. Sushil Wadhwani, will become a partner at
Caxton.

Dr. Wadhwani takes a quantitative approach to investing that relies
heavily on detailed economic models. Dr. Wadhwani will be responsible for
utilizing his successful investment strategy to manage a meaningful notional
capital allocation for Caxton Global Investments, Caxton's flagship global
macro fund in parallel with the Keynes funds, the existing funds Dr. Wadhwani
manages.

"We have had a relationship with Wadhwani Asset Management for some time,
and I have known him personally for the better part of a decade." said Andrew
Law, Caxton's Chief Investment Officer. "Dr. Wadhwani is a very talented
investor with a successful track record and an impressive background. His
economic model-based approach to investing fits strategically with Caxton's
overall macro investment philosophy. We look forward to leveraging Dr.
Wadhwani's tremendous background, experience and talent in economic analysis
and to learning from, and sharing ideas with, Dr. Wadhwani and members of his
team. We believe this alliance will expand Caxton's trading expertise."

"I am pleased to be joining forces with Caxton and have always admired
their global macro approach to investing which has resulted in Caxton
becoming one of the world's most successful hedge funds," said Dr. Sushil
Wadhwani. "Caxton has built an experienced network of traders and I look
forward to learning from the Caxton team. I am confident that this strategic
alliance will help us to improve our investment performance."

Wadhwani Asset Management will be relocating to 40 Berkeley Square, the
location of Caxton's London offices.

Prior to founding Wadhwani Asset Management, Dr. Wadhwani was a full-time
external member of the Monetary Policy Committee at the Bank of England. From
1995 to 1999, he was a member of the management committee and a partner at
Tudor Proprietary Trading and from 1991 to 1995, Dr. Wadhwani was Director of
Equity Strategy at Goldman Sachs International. Dr. Wadhwani holds a BSc, MSc
and PhD in economics from the London School of Economics.

About Caxton Associates

Caxton Associates LP, is a New York-based trading and investment firm
formed as the successor to Caxton Corporation, which was founded in 1983 by
Bruce Kovner. Caxton Associates' primary business is to manage client and
proprietary capital through global macro hedge fund strategies as well as
other alternative investment disciplines. Assets are managed via a broad
mandate to trade in a variety of global markets and instruments. Caxton
Associates and its affiliates currently manage approximately $10.9 billion in
assets.

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