Hedge fund GRT Capital Partners has hired a top BlackRock energy trader to manage more than $400 million.
Daniel Rice was named lead portfolio manager for Boston-based GRT's energy strategy. He will manage both long/short and long-only strategies.
“We couldn’t be more excited,” GRT co-founder Tim Krochuk said. “Dan will make a wonderful addition to our existing team of 10 experienced managers. GRT was built by placing proven talent, like Dan Rice, into an advanced trading and compliance platform that enables them to focus 100% on picking stocks. Everyone at GRT is able to concentrate on what they do best—and we believe Dan will thrive in this environment.”
Rice was co-manager of BlackRock's $900 million Energy & Resources Fund, and managed a total of $2.5 billion at the firm.