Nascent London Fund Strikes ‘Gold’

Jul 29 2008 | 8:58am ET

A new London hedge fund has ridden the soaring oil markets to triple-digit returns in its first five months.

BlueGold Capital Management returned 160% from its February inception through the end of June, the New York Post reports. But crude has taken a beating this month, and at least one sector analyst expects the fund’s returns in July to be “awful.” The firm has had only one down month so far, when it fell 16.3% in March as oil prices dipped.

Still, its eye-popping first-half results have investors flocking to the firm, founded by Dennis Crema and Pierre Andurand, former traders from Swiss energy trading firm Vitol. BlueGold’s assets have soared sixfold since inception to $925 million.

 


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Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

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