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Bailey McCann, Opalesque New York:

V2 Capital has launched a new hedged equity vehicle. The V2 Hedged Equity Fund is an open-ended single manager mutual fund utilizing the hedged equity strategy the firm was previously using in its private offering. The fund is launching with $240 million of assets.

"This is essentially the same strategy we were running a private fund, and were able to convert it successfully," Victor Viner, Founder and Chief Investment Officer of V2 Capital tells Opalesque. "We’ve also been able to bring over interest from existing investors."

The fund combines a long concentrated portfolio of 30-50 US equities with a short book comprised of S&P 500 options. The active management of the fund is designed to generate alpha, manage net exposure to a targeted range of 20%-80%, reduce volatility of returns, and provide some downside protection.

V2 started this year with backing from an institutional investor which allocated $200 million to the firm. V2 doesn’t charge performance fees and has plans to build its pipeline. One of the long time investors in the fund has also been Ken Langone – the Co-Founder of Home Depot.

V2 targets the qualified purchaser market, however the current investor base includes a mix of institutions and family offices. The firm has been recommended as both core equities exposure and long/short equities exposure within the universe of qualified purchasers. V2 has over $500 million in assets under management.

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