Monday, 22 September 2014
Last updated 40 min ago
Oct 28 2008 | 2:16pm ET
Investors are set to flee T. Boone Pickens’ energy hedge fund in droves.
The famed Texas oilman’s BP Capital, battered by energy market volatility, has lost about 60% of its value this year. And now about half of its investors have asked to withdraw their money, Reuters reports.
BP Capital has lost about $2 billion since late June. Pickens has reportedly waived withdrawal requirements, and has moved almost all of the fund’s assets into cash in preparation for the avalanche of redemptions, as well as to ride out the market volatility.
The losses are new territory for BP Capital, which has enjoyed only positive returns since its debut seven years ago. Pickens, who has made headlines in recent months more as an advocate for alternative energy and as an Oklahoma State University sports booster, has vowed to make a comeback.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.