Sun, Jun 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Energy hedge fund BlueGold liquidates entire portfolio

Monday, April 09, 2012

Opalesque Team: BlueGold Capital Management LLP, the $1bn energy hedge fund co-founded by Pierre Andurand and Dennis Crema, is liquidating after losing 34% last year, according to various media reports.

The London-based fund house, which invested mostly in energy derivatives, wrote to investors to announce the liquidation of the entire portfolio and the undertaking of an "orderly closure." Investors will receive about 98% of their capital, the letter said, without giving a reason for the decision, The Telegraph reported.

BlueGold managed $2.2bn at its peak. It started trading in February 2008 and did well that year, returning 209%, and then 55% in 2009 and 13% in 2010, Bloomberg said.

But we had been hearing about BlueGold’s losses for a year. BlueGold was one of the worst performers among commodity hedge funds in 2011, industry data gathered by Reuters shows. It lost 35% then and its asset base shrunk to about $1.2bn from $2bn a year a before.

An investor who redeemed money from BlueGold in January told Reuters he still regarded the fund as "a pretty talented group" that may have given ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider