Sunday, 25 January 2015
Last updated 2 days ago
May 23 2012 | 3:21am ET
Master limited partnerships specialist Swank Capital has opened its first hedge fund to outside capital.
The $2 billion Dallas-based firm launched the Cushing GP Strategies Fund six years ago. But with increasing interest and increasing opportunities in the energy space, Swank has decided to market the vehicle, hoping to increase its assets from $105 million to several hundred million dollars.
In addition, the decade-old firm is mulling a second hedge fund launch.
"This is a great time for the MLP sector because of the large growth in oil and gas production in this country," Managing director Terry Beneke, a recent hire, told HFMWeek.
Beneke joined Swank from Putnam Investments to bolster its fundraising drive. The firm also hired family office veteran Adam Evans to that end.
Cushing GP returned 15.8% last year and is up 5.9% this year.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…