U.S. Head of Vega Hedge Fund to Retire

While Berg's retirement is effective immediately, he will remain a consultant.

In a separate announcement today, Vega is expanding its seeding platform. The firm announced that it has obtained $1 billion of seed capital from BBVA, a Spanish-based financial services firm, for a new joint venture between BBVA and VegaPlus Capital Partners.

VegaPlus is a platform of hedge funds that Vega uses to develop and bring to the market emerging managers. VegaPlus acts in this capacity as an "incubator," a jargon term referring to the scouting and funding as well as the support of new hedge fund talent.

VegaPlus is a $2 billion hedge fund incubator with 10 hedge funds under its umbrella. One of VegaPlus' managers, Larry Seruma, who runs a long/short portfolio, returned 30% last year.

BBVA will take a 51% equity stake in the new venture, while Vega will hold 49% of the new entity.

« Previous Page

1 2

Next Page »