Vega rebounds and adds credit strategy


Vega Asset Management, the Madrid and Cayman-based hedge fund group headed by Ravi Mehra and Jesus Sa'a Requejo, seems to be getting back into expansion mode after recording its best ever year of returns in 2009 and recently launching a new credit strategy.

Vega, which was briefly a few years ago the biggest hedge fund group in the world with assets of around $10 billion, now manages total assets of around $400 million.

But its original flagship Vega Global fund, which now manages about $123 million, made a chunky return of 62.34% last year. And the Vega Select Opportunities fund,