Tuesday, 28 April 2015
Last updated 2 hours ago
May 3 2010 | 12:41pm ET
A longtime Goldman Sachs energy-trading executive is striking out on his own, becoming the latest to found a new commodities hedge fund.
Gilbert Saiz is set to launch his Vector Commodity Fund early this summer, Bloomberg News reports. The fund will trade crude oil and refined oil products, areas that Saiz knows well from his stint as head of Goldman’s European fuel-oil desk.
Vector aims to raise US$100 million at launch and has a capacity of US$600 million.
According to John Thompson, a marketer at Energy Alpha Strategies, London-based Vector will feature two other traders and a partner charged with risk management. The fund will be active in the futures, swaps and options markets from the U.S. Gulf Coast to Singapore, Vector said in a marketing document.
Saiz is not saying goodbye to Goldman completely: The Wall Street giant will serve as Vector’s clearing broker. Saiz worked at the firm for more than a decade, both in London and New York.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…