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: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...