Friday, 30 January 2015
Last updated 34 min ago
Feb 8 2010 | 8:25am ET
Commodities hedge fund Touradji Capital Management poured more than $50 million into steel companies in the fourth quarter, according to a regulatory filing.
The $2.7 billion New York-based firm moved to profit from the federal “Cash for Clunkers” car program, which forced automakers to increase their purchases of steel. Touradji bought $50.8 million worth of shares in four steel companies, including U.S. Steel and Steel Dynamics.
The hedge fund also bought nearly $10 million in XTO Energy shares, according to the filing.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…