Tuesday, 27 January 2015
Last updated 10 hours ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…