Ex-Refco, Graham Execs Prep New Commodity Funds

Jan 14 2010 | 9:14am ET

Newly-formed Nautical Capital Management, a Purchase, N.Y.-based hedge fund firm, is gearing up to launch a series of commodity-based absolute return strategies.

“The specialization of strategies in the commodities space will begin to grow and each one of our strategies will focus on exploiting very specific and liquid inefficiencies in the marketplace,” Ryan Carrier, chief investment officer and a former director of commodity investor products at Macquarie Bank Limited in New York, told FINalternatives.

The firm will initially offer two discretionary strategies: a commodity market neutral strategy and an options-only directional commodity one. It also plans to roll out a systematic strategy that maintains fixed exposure to 15 different commodities and an active commodity index for exchange traded fund and structured product distribution.

Carrier’s partners in the new venture include David Henritze, who previously founded and Refco Alternative Investments in 2002, and Raymond Murphy, who worked for Conn.-based hedge fund firm Graham Capital Management, where he managed funds in the equity index, interest rate, and commodity futures and options spaces.

Carrier said he expects commodity allocations to double over the coming years, thanks in large part to increasing demand coming out of Asia.

By Hung Tran

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