Trafigura Unit Plans $500M Energy Hedge Fund

Oct 15 2008 | 1:01am ET

Prominent commodities trader Trafigura Beheer plans to launch an energy hedge fund early next year, aiming to raise US$500 million.

Galena Asset Management, the funds division of Trafigura, while launch the fund during the first half of next year. It will primarily trade oil and gas, CEO Jeremy Weir said. The new fund will use a model similar to that of its US$500 million metal hedge fund, Weir said.

That fund is up about 10% through September, Weir added, though its $180 million Special Situation fund, which invests in mining companies, has lost 21% in the same period. Galena currently manages a total of US750 million across four funds.

Meanwhile, David Mimra has joined Galena in London as head of sales and marketing for existing and new hedge funds. Mimra joins from the hedge fund platform Harbour Capital Partners.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note