Centaurus Up 4% As Arnold Exits

May 10 2012 | 12:17pm ET

Centaurus Capital's flagship natural gas hedge fund is up this year as founder John Arnold begins to wind it down.

The 37-year-old billionaire announced last week that he would retire from money management and return the $4 billion firm's outside capital to investors. Arnold cited a desire to "pursue other interests," but his decision also comes during a difficult period for natural gas markets.

Not too difficult for Arnold, however: Centaurus Energy is up about 4% this year, Forbes reports.

Still, that's a far cry from the triple-digit returns Arnold made his name with in the 2000s. He suffered his first annual loss in 2010, dropping 4%. But he bounced back last year, returning 10%.

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