Vega Asset Management, the macro and fixed income relative value hedge fund group that manages $11 billion, has appointed Rajiv Sobti head of trading for North America. Sobti will also be managing a large hedge fund on the VegaPlus platform.
“Rajiv is a recognized industry leader who brings a combination of experience managing a broad array of assets, extensive expertise in fixed income, entrepreneurial spirit and dedication to his work,” says Jon Berg, chief executive officer of Vega Asset Management (USA) LLC. “We are excited to have Rajiv as our newest senior officer and look forward to the contributions he will make to Vega’s continued growth.”
Sobti joins Vega Asset Management from BlackRock Financial Management, where he was a senior member of the Investment Strategy Group and co-head of the fixed income group. During his six-year tenure at BlackRock, Sobti maintained primary responsibility for overseeing core bond accounts and the more than $60 billion of mortgage-backed securities under BlackRock’s management.
Previously, Sobti was a managing director and head of Quantitative Research at Donaldson Lufkin & Jenrette (DLJ), responsible for portfolio strategies and asset/liability risk management. During his more than ten years with DLJ, Sobti worked with leading insurance companies on risk management issues. Before that, Sobti, who has a Ph.D, was as an assistant professor at McGill University, where he taught portfolio theory and investments.
“This position provides me an excellent opportunity to pursue an entrepreneurial venture in the fixed-income market at a firm with world-class capabilities,” says Sobti. “I look forward to serving the broader Vega growth objectives in the coming years.”
Sobti has been a member of Institutional Investor’s “All American Research Team” since 1990, and a “First Team Member” for Mortgage Strategy for four consecutive years. He served as chairman of the Bond Market Association’s Mortgage Research Committee from 1994 through 1996 and has been published in numerous academic and practitioner journals on topics including mortgage securities and derivative products.
Sobti earned a bachelor’s degree in economics from St. Stephens College, University of Delhi; an M.B.A. in finance from the India Institute of Management; and a Ph.D. in finance from the Wharton School at the University of Pennsylvania.