Ex-Glencore Traders Launch Commodities Fund

Apr 11 2014 | 8:58am ET

Glencore vets Paul Schurman and Patrik Sundberg hope to raise $500 million as they open their new event-driven commodities fund to outside investors.

Tulos Capital, which will focus on agricultural commodities and oil, was founded in 2013 and opened to outside money in February 2014, reports the Financial News.

Schurman, the chief investment officer of Tulos, is the former head of oil derivatives at the commodities trading giant Glencore, which he left in late 2012. Prior to joining Glencore, he spent a year at Millennium and before that was a commodities trader with Goldman Sachs.

Sundberg has a similar CV, having also worked at Millennium and Goldman Sachs prior to joining Glencore

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