Sunday, 28 August 2016
Last updated 1 day ago
Feb 19 2008 | 12:00am ET
New York commodities hedge fund shop Juno Mother Earth Asset Management has lost co-founder Joseph Di Virgilio, who is setting up a new hedge fund firm.
Di Virgilio has set up Vertus Capital Partners alongside Craig and Dermot Coughlan. He will serve as chief investment officer of the New York-based long/short equity firm, and will manage its first offering, the Vertus Sustineo Fund.
At Juno Mother Earth, Di Virgilio managed an equity portfolio. He indicated his departure from Juno was in part due to his discomfort with the state of the commodities market.
Sustineo will invest in alternative energy, water, food and agriculture stocks, with no commodities exposure. The fund, in which Vertus expects to raise $100 million by the end of the year, is designed to keep risk and volatility to a minimum.
Goldman Sachs serves as the new fund’s prime broker, with Concept Capital handling administration duties.