Vega Vet. Offers Reprieve To Hedge Fund Investors

Mar 17 2009 | 1:12pm ET

Vega Global Fund and Banco Santander veteran Ravi Mehra is launching a fund to snap up distressed hedge fund assets from institutional investors looking to rid their portfolios of illiquid hedge fund holdings.

Mehra, former managing director in charge of non-traditional asset management at Santander and founder of Vega, is teaming up with Jesús Saá Requejo, a fellow Banco Santander alumnus, to launch the Sapphire Global Fund, which will be listed on the Irish Stock Exchange. The fund will buy at a discount shares in hedge funds that have stopped or restricted redemptions from funds of hedge funds and other institutional investors. It will also invest in equities, convertible bonds, commodities and other structured products.

“The ability to buy these super-illiquid assets at once-in-a-lifetime discounts and, where appropriate, hedge out some market based exposure, will be the mantra of the new titans of the industry,” said Mehra, in an interview.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note