Thursday, 28 August 2014
Last updated 12 hours ago
May 4 2012 | 11:37am ET
Galena Asset Management has struck upon a new strategy in its bid to double its assets under management.
The hedge fund arm of Trafigura hopes to raise U$1 billion to invest in trade and commodity finance, areas that banks have begun to shy away from. Galena has run a commodities trade finance fund since 2010.
“By participating in the financing of commodity trading operations, investors will be able to monetize the value of liquidity in a market that, until recently, has only been open to banks,” Trafigura CFO Pierre Lorinet said. “Notably, this initiative will also provide distribution channels for those banks seeking to deleverage their balance sheets.”
To boost the new effort, Galena has hired three Bank of America trade finance executives. Christoph Gugelmann, Philip Jan Kok and Stefano Sabbadini were named portfolio managers. The three will work to diversify Trafigura’s funding sources as well as developing new funds to complement the existing Commodity Trade Finance fund.
Trade finance is only the latest plan from Galena to double its assets to US$4 billion, announced late last year. The firm launched new macro and mining-focused private equity funds in the first quarter.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...