Hedge Funds

Vega commodity-equity spinout emphasizes shorts


Mark Corigliano, manager of Proxima Alfa Investment’s new commodity-focused long/short equity fund, which Proxima spun out of its derivative-focused Anglian Commodity Fund on May 1, is leaving high-stakes directional bets on commodities to the Boone Pickens’ of the world, thank you very much.

Mark Corigliano

Instead, Corigliano’s Anglian Equity Fund emphasizes shorts – and does so with individual stocks, rather than options or baskets of equities.

Corigliano, a onetime petroleum engineer and former investment manager with Duke University, also draws on the expertise of the commodity derivative traders he still works with at Proxima, the