BP Capital Left With Just $40M In Assets

Feb 18 2009 | 1:02am ET

BP Capital Management lost some 97% of its value in the fourth quarter as it sold off most of its holdings and met investor redemptions, according to a regulatory filing.

The Texas hedge fund, run by billionaire oilman T. Boone Pickens, has just nine energy companies left in its portfolio. In a Nov. 14 filing, it said it owned 26.

The fund is now worth just $40 million, down from $1.29 billion as of Sept. 30.

In December, investors pulled some 65% of the fund’s assets.


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

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

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note