Friday, 24 October 2014
Last updated 1 hour 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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