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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of