Sunday, 21 September 2014
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.