Wednesday, 6 May 2015
Last updated 18 hours ago
Mar 14 2011 | 2:24pm ET
Plenum Investments will launch a new hedge fund investing in something familiar, but in an unfamiliar place.
The Zurich, Switzerland-based firm has hired a manager for a fund that would invest in energy markets in continental Europe, south of its primary focus on the Nordic power markets. Plenum has also begun discussing the new fund with potential investors, Bloomberg News reports.
"We see demand for energy commodities from the investors, and the Americans are clearly ahead of the curve," CEO Rainer Gruenig said. "Such a fund would be economically viable at €15 million to €20 million."
But Plenum is thinking bigger for the new fund, which does not yet have a launch date. The firm aims to raise €250 million for the fund, more than five times the size of its Nordic-focused Power Surge fund.
The new fund would be managed by Trond Svanes Jensen, who would join Plenum fron Norway's European Commodity Management. And it would invest in German and French power futures, Dutch natural gas, emissions and coal, according to Bloomberg, with 70% of assets in a quantitative model. Jensen's models at ECM have produced positive results for five years.
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…