Ex-Merrill Lynch P.M. Launches Carbon Hedge Fund

Nov 25 2008 | 3:12am ET

Robert Preston, a former portfolio manager at Merrill Lynch, recently launched a hedge fund focusing on companies working on clean technologies and energy delivery efficiencies.

Specifically, the Craigmillar Equity Fund concentrates on companies that are benefiting from the long-term energy de-carbonization trends. The firm believes that density consideration has been the driving force of energy evolution, affecting all sectors of the economy.

“Coal is easier to store than cords of wood,” it said. “Oil, by truck, was easier to move than coal by rail. Gas can be shipped to homes by pipe. A wire is smaller than a pipe.”

The fund, which launched in July, has suffered along with the rest of the industry this year, dropping some 20% since inception, according to public databases. It charges a 2% management fee and a 20% incentive fee and a $250,000 minimum investment requirement.

Prior to Merrill Lynch, Preston also held senior positions with other large financial firms including Paine Webber, L.F. Rothschild, Union Bank of California and Nomura.


In Depth

Prominent Hedgie Renee Haugerud Embroiled in Ugly Child Custody Battle

Sep 10 2014 | 2:43pm ET

A high-profile hedge fund manager is caught up in a nasty child custody battle in...

Lifestyle

Full House’s Stamos To Play TV Hedge-Fund Manager

Sep 5 2014 | 4:43am ET

The life of a Connecticut hedge-fund billionaire is coming to the small screen.

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

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…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.