Former Lehman, UBS Salesman Founds Unfortunately-Named Commodity Hedge Fund

Aug 19 2009 | 10:43am ET

A former Lehman Brothers and UBS banker is hoping to cash in on the recovery of the commodities market with a new hedge fund.

Edward Filippi, who worked on the late bank’s commodity sales desk for a year, has raised US$35 million for his new Ground Zero Strategic Commodities Fund, Bloomberg News reports, despite its impolitic appellation. The Zug, Switzerland-based fund is set to begin trading early next year.

Ground Zero will invest in energy, metals and agricultural derivatives, and joins a large number of new commodity hedge fund shops seeking to get off the ground. But the turnaround for commodities is a double-edged sword for new firms like Ground Zero, which is seeking to add a portfolio manager and operations officer.

“Since the markets have recovered in March, banks have been more aggressive in recruiting,” Filippi told Bloomberg. He’s already had a trader he was pursuing snatched by a bank.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...