Richard Andrew Deitz (born August 12, 1965) is an American investment manager. He is the founder and president of London-based[1] investment firm VR Capital Group.[2][3][4]
Richard Andrew Deitz | |
|---|---|
| Born | August 12, 1965 Washington, D.C., US |
| Alma mater | Yale University, 1987 |
| Occupation | Asset management |
| Title | President and Chief Investment Officer, VR Capital Group |
| Spouse | Marina Nacheva |
Early life and education
editDeitz was born in Washington, D.C. and attended public school in Montgomery County, Maryland. He studied history and economics at Yale University where he graduated magna cum laude in 1987.[2][4]
Career
editAfter graduating from Yale, he began his career in finance specializing in fixed income derivatives at The First Boston Corporation. Deitz remained with the firm in New York City upon its takeover by Credit Suisse, becoming managing director at Credit Suisse Financial Products in 1993. In 1994, he moved to London and then Moscow to establish the derivatives unit's presence in Eastern Europe.[4]
In 1995, Deitz left Credit Suisse together with several colleagues to co-found the investment bank, Renaissance Capital, in Moscow where he ran the firm's fixed income trading business.[3][4] In 1998, Deitz left Renaissance Capital and founded VR Capital Group to build an asset management business focused on distressed debt investing.[3][4] The firm launched a fund in May 1999 initially investing in distressed credits in Russia and the former Soviet Union following the 1998 Russian financial crisis and the demise of Long Term Capital Management. VR Capital has become known for investing into countries undergoing high levels of macroeconomic stress and working with sovereign and corporate debtors to restructure their balance sheets and regain access to capital markets. VR Capital invested heavily in Argentina following the sovereign default and currency devaluation in 2001, and likewise was a major investor in Greece in 2012 and Ukraine in 2014.
Its flagship fund, VR Global Partners, L.P., had assets under management of approximately US$4.4 billion at the end of 2017[5] and was cited by Barron's in June 2016 for its performance over the past decade.[6] The fund's offshore version was named "Fund of the Year" at the HFM US Hedge Fund Performance Awards 2017[7] and won the "Distressed" category at the EuroHedge Awards 2017.[8] The fund's offshore version also walked away as the winner of the “Credit over $500m” category at the HFM European Hedge Fund Performance Awards 2018.[9]
In May 2016, Deitz was a speaker at the 21st annual Sohn Investment Conference in New York where he articulated the firm's investment thesis on Greek government bonds and banks.[4][10] He has also written op-ed columns on Argentine and Greek debt restructurings.[11][12]
Personal life
editDeitz lives in London and is married to Marina Nacheva. They have three children.
Deitz serves on the President's Council on International Activities and on the Jackson Institute Council at Yale University.[4][13] Deitz's family have been sponsors of autism research at the Yale Child Study Center.[14][15]
Deitz is a co-owner of EuroLeague Basketball team Maccabi Tel Aviv.[16]
References
edit- ^ "Hedge funds look for opportunities in beaten-up Argentine assets". Financial Times. October 14, 2019.
- ^ a b Richard Andrew Deitz. "Richard Andrew Deitz: Executive Profile & Biography - Businessweek". Bloomberg.com. Retrieved 2016-03-07.
- ^ a b c "NEW RUSSIAN INVESTMENT BUSINESS FORMED BY LEADING FINANCIAL MARKETS PROFESSIONAL - February 10, 1999 /PR Newswire UK/". Prnewswire.co.uk. 1999-02-10. Retrieved 2016-03-07.
- ^ a b c d e f g "Sohn Investment Conference" (PDF). Sohn Conference. Retrieved 31 August 2016.
- ^ "Barron's Top 100 Hedge Funds". Barron's. Retrieved 28 April 2018.
- ^ Uhlfeder, Eric (June 18, 2016). "Top Hedge Funds Over The Last Decade". Barron's. Retrieved 31 August 2016.
- ^ "US Hedge Fund Performance Awards 2017". HFMWeek.com. Retrieved 20 December 2017.
- ^ "SR, Pharo, Kairos, Cheyne lead EuroHedge Awards 2017 Winners". hfm.global/eurohedge/. 25 January 2018. Retrieved 8 March 2018.
- ^ "HFM European Hedge Fund Performance Awards". hfmeuropeanperformanceawards.awardstage.com. Retrieved 28 April 2018.
- ^ Porzecanski, Katia (May 4, 2016). "VR Capital's Deitz Likes Greek Bank Stocks, Government Debt". Bloomberg. Retrieved 31 August 2016.
- ^ Deitz, Richard (July 27, 2014). "A Sensible Path for Avoiding an Argentine Default". The Wall Street Journal. Retrieved 20 December 2017.
- ^ Deitz, Richard (August 22, 2012). "Three steps to put Greece on the road to sustainability". ekathimerini.com. Retrieved 20 December 2017.
- ^ "Yale University President's Council on International Activities". Yale University. 10 July 2015. Retrieved 11 January 2018.
- ^ Hathaway, Bill (November 15, 2016). "Yale researchers find key to predicting outcomes of autism treatment". Yale University. Retrieved 11 January 2018.
- ^ Rosner, Cara (November 15, 2016). "Yale Study: Monitoring Brain Activity Key To Autism Treatment, Outcomes". Hartford Courant. Retrieved 11 January 2018.
- ^ "Richard Deitz and Ben Ashkenazy: New Partners Join the Maccabi Family". maccabi.co.il. Retrieved 20 December 2017.