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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note