Saturday, 28 March 2015
Last updated 9 hours ago
Oct 27 2010 | 1:24pm ET
It's been a rough first year for former star Citigroup energy trader Andrew Hall's new hedge fund. But on the heels of its biggest month of the year, the firm, which has already raised more than $2 billion, is preparing to raise some more.
Astenbeck Capital Management, set up by Hall and Occidental Petroleum—which bought Hall's Phibro trading desk from Citi last year—plans to reopen its flagship Astenbeck Offshore Commodities Fund II in January, MarketWatch reports. The fund is currently closed to new investors.
Astenbeck was down by almost 12% through the first three quarters of the year, which has proven a difficult one for commodity hedge funds. But the fund stormed back in September, returning about 9% and cutting its year-to-date loss to just 4%.
Citi put Westport, Conn.-based Phibro on the block last year due to Hall's guaranteed $100 million bonus, which Citi feared would raise the ire of federal regulators. Occidental paid $250 million for the unit; Phibro manages money exclusively for the oil company, while Astenbeck manages outside capital.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…