San Diego Hedge Fund Catches Cleantech Wave

Aug 28 2008 | 9:17am ET

Viresco International Capital Management is surfing the green wave with the launch of a clean technology fund. 

The San Diego-based firm has recently launched the Viresco Opportunities Global Fund, a long/short hedge fund that aims to capitalize on the worldwide boom in clean energy and technologies.

“Viresco Opportunities Global Fund’s objective is to achieve superior absolute total returns through investment in clean technology,” states the fund’s offering memorandum, which was obtained by FINalternatives. “Viresco achieves this investment objective by actively managing a globally diversified portfolio consisting primarily of long and short strategies of publicly traded clean technology equity, debt and derivative securities on a leveraged basis.” 

The offering documents say that the fund is unique, “because it covers the entire global spectrum of clean technology verticals. This strategy allows for diversification, risk management and predictability.”

The fund is being managed by Karim Salamatian, a partner and chief investment officer at the firm. Prior to joining Viresco, Salamatian was a managing director with BMO Capital Markets in Toronto, Canada.

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