Ex-Credit Suisse Traders To Soft-Close Commodity Hedge Fund

Dec 6 2011 | 12:34pm ET

Taylor Woods' maiden hedge fund will close to new investors at the end of the first quarter, the firm told clients.

Greenwich, Conn.-based Taylor Woods, founded last year by former Credit Suisse traders George Taylor and Trevor Woods, said the impending soft-close was due to its burgeoning assets under management, which now stand above $1 billion despite the Master Fund's loss of 2.18% between its February launch and the end of October. Taylor Woods debuted with $150 million in seed capital from the Blackstone Group, a figure that had grown to $500 million by the summer.

Taylor Woods' year-to-date loss is slightly less than the average loss suffered by commodity hedge funds. About three-quarters of the firm's assets are invested in commodities, Bloomberg News reports.

"The volatility in the commodity markets will continue for the foreseeable future," Taylor wrote to investors.


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The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.