The Result Of The Merge Between Vega Asset Management And The Banco Bilbao Vizcava
The leader in Hedge Fund firms is Vega Asset Management. With a partnership with Banco Bilbao Vizcava, a Spanish bank, Vega started a joint venture worth $3 billion dollars in 2006 called Proxima. The purpose for this venture was to lend aid to investors just starting out in an alternative industry worth at lest $1 trillion dollars. Vega has become the name that alternative investors go to for these alternative investments. Since it’s startup in 1996, Vega has become a very well-known, reliable and trustworthy firm. It has over 500 investors worldwide and has base offices in Madrid, London and New York making this company easily accessible wherever you are. Vega is not entirely the reason for Proxima’s success. Banco Bilbao Vizcava has had quite a successful run as well. It is personally responsible for acquiring top European banking groups with a $58.5 billion dollar market value and a total assets value of $392 billion dollars. So both Banco Bilbao Vizcava and Vega are both equally responsible for the many successes that Proxima has received.
Banco Bilbao Vizcava owns 51 percent of the merge to Proxima with Vega under the new Spanish regulatory code while keeping up with the corporate authority. The remaining 49 percent is controlled by Vega and is responsible for the VegaPlus business line, which is a hedge fund for the self-dependent. This hedge fund has a $2 billion dollar asset and investments within 10 different funds. Proxima was able to reap the rewards of this new venture through the highest in advanced technology and the best risk-controlled systems of both Banco Bilbao Vizcava and Vega. Proxima can stake their claim to be the first in its field to offer alternative investment opportunities to markets across the globe.
Although both Vega Asset Management and Banco Bilbao Vizcava believed fully in this alternative investment idea, neither one of them were 100% willing or able to risk independently, the chance of their business failing. The merging of the two successful companies together to form Proxima seemed to be the perfect solution, taking ideas and successful history of each company and throwing them together to quickly become one of the world’s leading companies of alternative investments both domestically and internationally. Banco Bilbao Vizcava took control of the international aspect of the business, while Vega was put in charge of dealings with the United States. This partnership has proven to be a wise and sound merging.
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