BlueGold Co-Founder's New Hedge Fund Soars

Apr 12 2013 | 12:45pm ET

BlueGold Capital Management co-founder Pierre Andurand's new hedge fund is off to a fast start.

Andurand Capital Management's maiden fund debuted on Feb. 1 and has returned 16% over its first two months, Bloomberg News reports. The $200 million fund profited from an arbitrage bet on oil traded in London and New York.

Other prominent commodity funds did less well in the first quarter, with the average one returning 1.3%, according to the Newedge Commodity Trading Index. Armajaro Asset Management's commodities fund rose 3.3% on the month and Brevan Howard Asset Management's added 1.1%. Krom River Trading's Commodity Fund fell 1.8% in the first three months of the year, and Clive Capital declined 2.6%.

Andurand set up his eponymous firm after closing BlueGold last year, following a 34% loss in 2011. The new firm focuses on oil, employs less leverage and holds smaller positions, and does not invest in equities.


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...