  The string coupling of N=2 supersymmetric compactifications of type II string
theory on a Calabi-Yau manifold belongs to the so-called universal dilaton
hypermultiplet, that has four real scalars living on a quaternion-Kaehler
manifold. Requiring Heisenberg symmetry, which is a maximal subgroup of
perturbative isometries, reduces the possible manifolds to a one-parameter
family that describes the tree-level effective action deformed by the only
possible perturbative correction arising at one-loop level. A similar argument
can be made at the level of global supersymmetry where the scalar manifold is
hyper-Kaehler. In this work, the connection between global and local
supersymmetry is explicitly constructed, providing a non-trivial gravity
decoupled limit of type II strings already in perturbation theory.
