Pickens Investors Pull 65% From Hedge Fund

Dec 18 2008 | 3:13am ET

T. Boone Pickens’ equity hedge fund is set to shrink by almost two-thirds after the Texas oilman’s firm lifted the fund’s withdrawal limits.

BP Capital said the fund’s redemption rate was 65%. Investors had until Oct. 31 to notify the firm of their intention to withdraw their investments. BP Capital had waived its normal 90-day notice period and quarterly redemption limits.

Pickens has spent much of the past year pushing his alternative energy plan, which includes a wind farm stretching from Canada to Mexico and running cars on natural gas.

BP Capital has lost about 60% of its value this year.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...