Galena Plans To Double Assets To US$4 Billion

Nov 7 2011 | 1:18pm ET

Commodity hedge fund Galena Asset Management hopes to more than double its assets under management over the next two years, increasing the size of its current funds and launching new ones, including its first private equity fund.

The US$1.8 billion asset management arm of Trafigura, which moved the hedge fund to Geneva, Switzerland, earlier this year, aims to manage in excess of US$4 billion two years from now.

"At the moment, liquidity is transferring from banks to others such as commodity traders and hedge funds," Galena CEO Jeremy Weir told the Financial Times. "If the banks are in a distressed situation and need to sell assets, then there will be some opportunities."

To capitalize on those opportunities, Galena plans to open its new macro fund to outside investors in January and to launch a mining-focused private equity fund in the first quarter. Galena plans to seed that fund with US$100 million and to raise an additional US$400 million over the next few months.

Galena has even bigger plans for the macro fund, which debuted last year with seed capital from Trafigura. Weir told the FT that it could raise up to US$1 billion.

Galena also plans to raise US$300 million before the end of the year for its commodity trade finance fund.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of