-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 FxrhLh/pcAMW8POkVq8Viw==

<SEC-DOCUMENT>0001352025-09-000004.txt : 20090420
<SEC-HEADER>0001352025-09-000004.hdr.sgml : 20090420
<ACCEPTANCE-DATETIME>20090420162128
ACCESSION NUMBER:		0001352025-09-000004
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20090420
DATE AS OF CHANGE:		20090420
EFFECTIVENESS DATE:		20090420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAZENOVE EUROPEAN EQUITY ABSOLUTE RETURN FUND LTD
		CENTRAL INDEX KEY:			0001352025
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-85854
		FILM NUMBER:		09759510

	BUSINESS ADDRESS:	
		STREET 1:		MARY ST P O BOX 908 GT
		STREET 2:		GEORGE TOWN WALKER HOUSE
		CITY:			GRAND CAY CAY ISL
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		353 1 612 3462

	MAIL ADDRESS:	
		STREET 1:		MARY ST P O BOX 908 GT
		STREET 2:		GEORGE TOWN WALKER HOUSE
		CITY:			GRAND CAY CAY ISL
		STATE:			E9
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001352025</cik>
        <entityName>CAZENOVE EUROPEAN EQUITY ABSOLUTE RETURN FUND LTD</entityName>
        <issuerAddress>
            <street1>WALKER HOUSE</street1>
            <street2>87 Mary Street , George Town</street2>
            <city>GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-9002</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>353 1 612 3462</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>E9</jurisdictionOfInc>
        <entityType>Other</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <middleName>n/a</middleName>
                <lastName>Cazenove Capital Management Limited</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>12 Moorgate</street1>
                <street2></street2>
                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <zipCode>EC2R 6DA</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager of the Issuer (&quot;CCM&quot;)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Trevor</firstName>
                <middleName></middleName>
                <lastName>Ash</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>St. Christopher</street1>
                <street2>Rouge Huis Avenue</street2>
                <city>St. Peter Port, Guernsey</city>
                <stateOrCountry>XX</stateOrCountry>
                <zipCode>GY1 1RX</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The State/Province/Country of this related person is Channel Islands.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Victor</firstName>
                <middleName></middleName>
                <lastName>Holmes</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO Box 71</street1>
                <street2>Les Banques</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>XX</stateOrCountry>
                <zipCode>GY1 3DA</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The State/Province/Country of this related person is Guernsey.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName></middleName>
                <lastName>Miller</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10 Wildcroft Drive</street1>
                <street2></street2>
                <city>Wokingham</city>
                <stateOrCountry>XX</stateOrCountry>
                <zipCode>RG40 3 HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The State/Province/Country of this related person is Berkshire.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName></middleName>
                <lastName>Amy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Beau Regard Cottage</street1>
                <street2>La Rue des Bilieres</street2>
                <city>St. Lawrence, Jersey</city>
                <stateOrCountry>XX</stateOrCountry>
                <zipCode>JE31HG</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The State/Province/Country of this related person is Channel Islands.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName></middleName>
                <lastName>Jeffrey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>35 Southwood Lawn Road</street1>
                <street2>Highgate</street2>
                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <zipCode>N6 5SD</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-06-004154</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2005-01-03</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>85821808</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>8</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Directors fees for non-CCM employees are $7,500 per annum.  Management fee to CCM of 1.25% per annum of NAV on the last business day of each calendar month and the Performance Fee  to  CCM equal to 20% of the increase in the NAV per Share of each Class.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>CAZENOVE EUROPEAN EQUITY ABSOLUTE RETURN FUND LTD</issuerName>
                <signatureName>/s/Victor Holmes</signatureName>
                <nameOfSigner>Victor Holmes</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2009-04-20</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----