About Caveat

Caveat Capital Management (Pty) Ltd is a CATII Authorized Financial Services Provider (FSP no. 24777) registered at the South African Financial Services Conduct Authority (FSCA).

We are a strategic advisory firm based in Cape Town specializing in structuring investment portfolios that serve your needs now and grow with you as your needs change. 

From savings and strategic markets investments through to specialist M&A and structured investment portfolio management Caveat works to maximize your gains and minimize the risk.

Memberships and Associations

Appointed Advisers of ZAR X

Cape Chamber of Commerce & Industry

The South African Institute of Financial Markets


Chairman of Investment Community

Caveat Investments is a distributor of financial products for

Meet the Team

Tertius Relihan

Founder and CEO, Key Individual

Tertius Relihan is a Namibian and has been living in Africa for 50 years and has extensive experience as an investor and entrepreneur in over 8 African countries. He is the founder and CEO as well as Key Individual of Caveat Investments, an authorised Financial Service Provider (Licence No. 24777) which was established on the 11 July 2006. CAVEAT Capital Management PTY LTD is astrategic Advisory firm based in Johannesburg, South Africa. Prior to forming Caveat Investments, Tertius was one of the Initial Advisors of Business Partners South Africa. His responsibilities included originating, structuring and submission of credit and/or equity applications to the Board, negotiating and monitoring investments on behalf of Business Partners.He has a Bachelor of Commerce degree majoring in Economics and Mercantile Law from the University of Stellenbosch, and is a Registered Persons for the Equity Market (SAIFM) as well as the Forex Market (SAIFM).He is also a Member of the South African Institute of Financial Markets (MIFM) www.SAIFM.co.za . In addition he completed all his Regulatory Exams under the FAIS act in South Africa RE-1, RE-3 and RE-5 to act as a Key Individual for an Authorised Financial Services Provider at the Financial Services Conduct AuthorityHe is a former Chief Life Saving Inspector of the Sea and Sand Life Saving Association. The Association focuses on fostering Leadership skills and knowledge of the sea for school leavers of the Sea and Sand Academy, Africa’s premier Life Saving preparatory college.Tertius is on the Paul Roos Gymnasium Old Boys Johannesburg Gauteng Committee.Tertius currently serves as a Fund Advisor to Tulimeke Capital Fund Ltd in Namibia as well as the Chairman of the Investment Committee of Military Veteran Gunners Association of South Africa (NPO) in Johannesburg.

Hanres Beukes

Head of Trading and Strategy

Hanres Beukes has been making use of quantitative models to trade global futures markets for over 10 years. He discovered his passion for trading while attending high school at the Afrikaans Hoer Seunskool (Affies) in Pretoria, 1996 - 2000. Hanres graduated with a Bachelor of Commerce (B.Comm) in Financial Management Sciences at the University of Pretoria (Tuks), which he obtained in December 2012. Since August of 2006, he started using his systematic approach to trade managed accounts. He is registered as a Commodity Fund Manager since 2012 with Tradeview. He is currently acting as the Head Trader & Strategist for Caveat Investments which is registered at the FSCA (FSP no. 24777) as a CAT ll Investment Manager. Hanres is also regulated by the CAYMAN ISLANDS MONETARY AUTHORITY (CIMA) and is a proud member of Tradeview Ltd.He is actively involved in improving and growing Caveat into a force to be reckoned with within the Fund community with his exceptional trading strategies and experience.

Frank Matthysen

NHED+4, DIPFMI, AUT, RE5, Key Individual

Frank has 28 years’ experience, employed by Old Mutual, Sanlam, TMA, Momentum, RMBAM, JAB Speculate Offshore Fund and Caveat Investments, to render support in investment solutions. He worked extensively with FNB-, ABSA- and Nedbank Broker Divisions, Itransact, Imara Reid, AIMS, Investec, Sanlam Glasier, Old Mutual Frontiers, Ashburton, Allan Gray, Momentum Wealth, Momentum Legal Support, & TSA Group Retirement Solutions, developing expanded knowledge, together with exceptional persons and teams in the industry. This assist a strong understanding, combining appropriate investment solutions, no matter within SA or International. He has a special passion for Retirement and Offshore solutions. Frank partake in continuous professional development (CPD), through the International brokers forum, Compliance companies and various financial product suppliers, to support clients & financial advisors within all applicable regulations. Frank is a registered Key Individual at Caveat Investments and Global Marketing Manager for JAB Speculate. He believes in impartial and objective advice, assisting investors and advisors.

Denise Janse van Vuuren


She is the company secretary and PA at Caveat Alternative Investments. She handles all administration, Digital Marketing and Events. She enjoy’s liaising with clients and is committed to ensuring that clients are informed about their cases, every step of the way! She is passionate about effective and efficient working methods. Committed to exercise discretion and patience in dealing with all cases, and undertake regular client feedback, excellent client service and understanding and ensuring that client specific requirements are met, in every case. Denise completed a short course at the University of Cape Town with an estimated learning time of 100 hours, Start date 02 September 2019 and end date 25 December 2019 in Digital Marketing.