Ex-Amaranth, Barclays Trader Launches Power Hedge Fund

Jan 9 2013 | 12:32pm ET

A former power trader at Amaranth Advisors and Brevan Howard Asset Management has launched a hedge fund of his own.

Ulf Ek founded Northlander Commodity Advisors in London. A former trader at Barclays, he was part of the flood of successful gas and power traders to quit the bank recently; Ek himself left in September 2011.

Northlander has been seeded by an unidentified source and has not begun marketing to outside investors. Ek incorporated the firm in December 2011 and registered it last January.

He's now also made his first hire: Power and energy trader Luis Adrian Mancebo Lomeli joined the firm this month, after stints at Nordic utility Vattenfall, Constellation Energy Group and Sempra Energy, Bloomberg News reports.

Ek, for his part, also formerly worked at Enron Corp.

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