Paridon CIO Berg Quits

Mar 3 2011 | 11:13am ET

Less than a year after launching its maiden hedge fund, Paridon Asia has lost its top manager.

Paul Berg, who served as chief investment officer of the Singapore-based fund, has left the firm, Bloomberg News reports. Firm founder and namesake Robert van Paridon has taken on the CIO's role in Berg's absence.

It is unclear why Berg, formerly head of macro and derivative strategies at Prudential Asset Management, resigned. But his exit comes less than six months after Paridon announced an ambitious plan to raise US$100 million within six months and US$250 million within two years for its Asia Macro Fund.

That fund debuted in May, seeded by US$10 million from van Paridon and US$1 million from Berg.

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