BlueGold Co-Founder To Launch Hedge Fund In June

Apr 23 2012 | 3:14pm ET

Abydos Capital Management, the new hedge fund from BlueGold Capital Management co-founder Jean-Louis Le Mee, is set to debut at the beginning of June with some US$30 million in assets under management.

Le Mee has put US$10 million of his own money up to start Abydos on June 1, and secured US$20 million more in seed capital. He's also built up the new firm's team, bringing on Ratio Asset Management veteran Paul Brunsden as chief operating officer and Matthieu Raimbault, formerly of BNP Cooperneff and Laffitte Capital. Both men are co-founding partners.

Unlike BlueGold, which announced earlier this month that it would liquidate its hedge funds and close, and which was invested largely in energy derivatives, Abydos will invest in commodities and equities. It will target annual returns in excess of 25% with volatility of between 15% and 20%, HFMWeek reports.

Abydos will have a US$500 million capacity, charging 2% for management and 20% for performance with monthly liquidity.

Le Mee worked at Goldman Sachs and York Capital before founding BlueGold in 2008 with Pierre Andurand and Dennis Crema. The fund, which once managed US$2.2 billion, said it would return some of its remaining US$1 billion in assets this month and the rest later this year. BlueGold, which enjoyed triple- and double-digit returns in each of its first three years, lost 34% last year and is down 2% this year.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

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.