Galena Posts Gains In January, Eyes US$1 Billion In New Assets

Feb 9 2012 | 1:38pm ET

Commodity hedge fund Galena Asset Management had a positive start to the new year, with all but one of its funds posting gains.

The US$2.1 billion asset management arm of Trafigura saw its flagship Metals Fund rise 2.57%, in line with the high end of the average hedge fund according to industry indices. The fund returned 11.32% last year.

Galena's Special Situations Fund did even better, adding 3.2%. That fund plummeted 28% last year.

A strong start to 2012 behind it, Geneva, Switzerland-based Galena is eyeing the rest of the year, notably its fundraising. The firm hopes to increase its assets under management to about US$3 billion this year; it previously said it plans to hit US$4 billion by the end of next year.

"You've got to be large," CEO Jeremy Weir told Reuters.

To get there, Galena is planning to launch a private equity fund with as much as US$1 billion in April. Last month, it launched the Commodity Macro Fund, which Weir said could "run billions" and which, despite an underwhelming first month, losing 1.5%, is "starting to see family offices and sovereign wealths really starting to look..."

Two other Galena hedge funds rose in January: The Energy Fund returned 2.2% and the Commodity Trade Finance fund 0.46%.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.