Tue, May 3, 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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n