Sunday, 19 April 2015
Last updated 12 hours ago
Feb 24 2014 | 1:15pm ET
Black River Asset Management rode volatile energy markets to a 1.5% return last month for its commodity fund.
The hedge fund, which is owned by commodities giant Cargill, is also up slightly this month, chief investment officer Jeff Drobny told The Wall Street Journal. The gains stand in stark contrast to the $100 million or more Cargill has lost trading in mid-Atlantic power markets this year, leading to the exit of the company's North American physical trading manager, David Toole.
Drobny said that Black River is run separately from Cargill's other trading units, calling it a "big company with a lot of different moving parts."
Black River said the $600 million commodity fund enjoyed gains on U.S. gasoline, U.S. heating oil and European power trades. Drobny said the firm, which has $6 billion in total assets, hasn't played in the U.S. power markets that burned its parent either this year or last.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…