Spanish Hedge Fund Makes Global Macro, Multi-Strat Offerings

Mar 10 2008 | 2:53pm ET

Valorica Global FIL, one of Spain’s first onshore hedge funds, has launched a global macro fund and a multi-strategy vehicle, both having won regulatory approval on Jan. 25.

The firm opened its doors for business in September, following approval from the Comisión Nacional del Mercado de Valores, and its first hedge fund vehicle, Valorica Global, a long/short equity fund, was given the green light by the Spanish financial regulator in October.

According to the firm, Global has attracted strong interest from both local and international investors and has raised €100 million (US$153.6 million) in its first two months. Víctor Manuel García Romero, Valorica’s director general, is confident that the fund will reach the €150 million mark by the end of the June.

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