Sunday, 29 March 2015
Last updated 1 day ago
Apr 23 2007 | 11:22am ET
Geologist Mike Keenan is mining his experience in natural resources in his newest role: that of hedge fund manager. Next month, Keenan will launch his maiden hedge fund, the Stowe Georesource Fund, a multi-directional natural resource-focused equity vehicle. The fund is set to launch with $1 million in partner capital and is working with a marketing agent to secure another $20 million to $25 million shortly after launch, according to Keenan.
Keenan, a consulting geologist with expertise in the natural resources space, founded Sacramento, Calif.-based Stowe Partners last year to provide consulting services to fund managers. Now, he is looking to leverage that experience and take the plunge into the hedge fund business himself, tapping investors with an appetite for commodities-related products. “We focus on gold, silver, uranium, water and petroleum, but do not trade the commodities per se, and are not registered with the CFTC, but generally use exchange-traded funds and stocks and their options traded on U.S. exchanges,” he said.
“The fund generally also holds U.S. government bonds and interest-paying cash instruments as a hedge and to provide income for option premiums” Keenan added. “ To enhance returns and provide additional hedging, it generally holds options in the natural resource sector.”
The Georesource Fund charges a 2% management fee and 20% performance fee, with a $250,000 minimum investment requirement.
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…