Plenum To Hand Nordic Power Hedge Fund Over To Founder, New Firm

Mar 30 2011 | 9:29am ET

Henrik Wennberg has left Plenum Investments, and is apparently taking his hedge fund with him.

Wennberg, who left Plenum earlier this year, has joined Stockholm-based Coeli AB. And Plenum said today that Coeli will take over its €43 million Power Surge Fund, which Wennberg founded and formerly managed, on May 1.

When Plenum Power Surge becomes Coeli Power Surge, Wennberg will retake the reins, Bloomberg News reports. During a roughly month-long transition, Plenum will continue to provide back- and middle-office services to the fund.

Plenum CEO Rainer Gruenig would not disclose the financial terms of Coeli's acquisition of Power Surge, which focuses on the Nordic electricity market.

Wennberg launched Power Surge in 2007. But he stepped down as portfolio manager last year when he moved from Plenum's base in Switzerland to Sweden, continuing as an adviser until this year.

After Wennberg's departure, Power Surge was managed by his brother, Mathias, and Jukka Virtala. Both men resigned from Plenum earlier this month.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note