Wednesday, 1 July 2015
Last updated 4 hours 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.
May 27 2015 | 2:15pm ET
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