How Far Can Vega Fall?

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The largest hedge fund run by Vega Asset Management has been hit up for redemption requests for as much as $400 million, according to Bloomberg’s sources. The Vega Select Opportunities once had around $2.2 billion of assets but was down to $1 billion at the beginning of September. And since September seems to have been a rough patch for the fund as well, it’s unclear whether the fund will be able to continue after the redemptions.
We hear that Vega’s other funds are not quite down as much but it’s not clear how much money the firm still has under management. Rumors consistently say that the overall assets at Vega may be as low as ten percent of its one time high of $12 billion. That, however, would mean that all the funds at Vega add up to only $200 million, which seems rather low.
Vega managers are holding their cards pretty close to their chests now, refusing to confirm how much they are still managing. But, as one of our commenters asked, it’s fair to ask whether the folks at Vega are now managing any money other than their own.
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Vega Select Investors Seek Return of $400 Million, People Say
[Bloomberg]

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