NEW YORK (HedgeWorld.com)–Larry Ortega was hired as vice president of institutional portfolio development in the asset management division of the Global Partners Group, which distributes The Market Wizards funds.

Mr. Ortega will be based at the firm’s New York City offices. His responsibilities include assisting institutional investors in developing strategies to preserve capital, maximize returns and minimize risk and he will specialize in alternative investments.

Global Partners Group’s offerings primarily are focused on the hedge fund and fund of funds arena. The firm distributes The Market Wizards family of funds, which are managed by Fortune Asset Management and co-advised by Jack Schwager, who wrote a series of books on Market Wizards .

“Global Partners Group has seen a growing interest in absolute return strategies by the institutional investors community worldwide,” said Salomon Konig, partner of Global Partners Group, in a statement. He added that Mr. Ortega’s appointment shows how important the needs of high-net-worth advisers, private banks, endowments, pensions and insurance companies are to Global Partners Group.

Mr. Ortega joined the firm from Chicago-based V-Tek Capital Inc., where he was a managing director at the futures hedge fund firm. He left in September and Scott Thring was promoted to managing director, according to Edward R. Velazquez II, founder of V-Tek.

SBarreto@HedgeWorld.com