Sunday, 31 August 2014
Last updated 1 day ago
Mar 30 2009 | 1:13am ET
Oil trader Andrew Serotta, who was asked to leave the Vitol Group last year, is raising money for a new hedge fund.
Serotta plans to launch Logista Capital in August or September, Bloomberg News reports. He’s already raised $25 million, with plans to garner a total of $100 million—including some of his own wealth.
“I’m going to keep doing exactly what I was doing at Vitol,” Serotta told Bloomberg. The firm will trade crude oil futures, options and spreads.
“The market’s are in a general state of disarray,” Serotta said. “It’s a perfect time to launch.”
Vitol, the Dutch-Swiss oil-trading giant, parted ways with Serotta, who worked in their Houston office, as it cut back on its “visible” derivatives trading. Just months before he left Vitol, the Commodity Futures Trading Commission reclassified some of Serotta’s trades as “noncommercial” or speculative, although he was not accused of any wrongdoing. Vitol said the CFTC move had nothing to do with its decision to cut ties with Serotta.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...