Wednesday, 17 September 2014
Last updated 10 hours ago
Nov 9 2006 | 11:42am ET
Ritchie Capital, reportedly burned by the spike in natural gas prices that sank Amaranth Advisors, is shuttering its specialist energy hedge fund.
Doug Rothschild, partner-in-chief and administrative officer for the firm, said, “this is part of our broader plan to move the business forward and focus on interesting spaces where we have a definable edge and can capture alpha.”
The $2.8 billion Geneva, Ill.-based firm’s energy fund had had a rough 2006; it was down in double-digits even before September’s disastrous natural gas price movements. The firm successfully won investor approval of new investment terms, including some lock-ups of up to three years. The firm said the move was necessary to prevent an outflow of investors requiring a major asset sell-off.
Ritchie’s is not the only energy hedge fund to hit hard times. In addition to Amaranth, MotherRock also closed its doors this year, and Citadel Investment Group reportedly took a hit from the energy markets.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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