Archive for the ‘Energy’ Category

Blackstone Energy Bets Going Strong

July 21, 2011

Chidem Kurdas

Saratoga Resources, an oil and gas development company that went through bankruptcy, was not an obvious energy play for private equity and hedge fund behemoth Blackstone Group. Indeed, Blackstone’s growing stable of energy and commodity funds (more…)

Managed Futures ETF: the Alpha Question

June 30, 2011

Chidem Kurdas

The first time I interviewed Tim Pickering almost two years ago, he managed the Claymore Natural Gas Fund trading on the Toronto stock exchange in addition to the Auspice diversified managed futures program. Earlier this month I interviewed him again for Opalesque Futures Intelligence, a publication I edit.

Tim has been busy. He’s developed a third-generation commodity index, the basis of another Claymore ETF on the TMX, and a managed futures index, with a corresponding ETF in the pipeline.   A third-generation commodity index  aims to get the upside of commodity returns while avoiding some of the downside. It’s meant to be a better way to get commodity exposure.  But what does a managed futures index do? I asked Tim that question.  (more…)

Hedgies’ Energy MLP Strategies Vary

June 9, 2011

Chidem Kurdas

Some hedge funds invest directly in energy master limited partnerships. For instance, MLP specialist Swank Capital manages such hedge funds. Other managers prefer to invest indirectly, not having MLP expertise.

Jerry Swank, managing partner at Swank Capital and Cushing MLP Asset Management, says MLPs have been the top asset class for several years. (more…)

Paulson May Get Offshore Drilling Payday

June 7, 2011

Chidem Kurdas

There have been widespread reports of losses at John Paulson’s Paulson & Co., largely due to falls in gold, silver and oil. Another big Paulson investment, however, got a recent boost. (more…)

Blackstone Makes Multiple Commodity Bets

April 28, 2011

Chidem Kurdas

Blackstone Group raised $2.4 billion for its second hedge fund seeding vehicle and started to deploy the capital in the past months. So far, $200 million has gone to two managers. One of them is a commodity manager.  (more…)

JP Morgan Highbridge Finds Sweet Spot

March 28, 2011

Last year, Highbridge Capital Management acquired a majority stake in Gávea Investimentos, a Brazilian manager. Turns out that Highbridge also bought a large block of shares in another Brazilian business—one of the world’s largest producers of sugar and ethanol, (more…)

Temasek Double Bet on Brazil Oil

March 9, 2011

Temasek Holdings, the investment company owned by the government of Singapore, bought a stake in Brazil’s (more…)

Energy Partnerships’ Record Capital Raising

February 7, 2011

Master limited partnerships raised $20 billion in debt and $12 billion in follow-on equity in 2010, in addition to initial public offerings—altogether more than in any previous year. Funds that invest in this natural resource niche did well. (more…)

Energy Exploration Attracts

October 14, 2010

A number of hedge funds have invested in companies that look for oil and gas or acquire properties with proven reserves. Among the favorites is Plains Exploration & Production Company but big producers like Exxon Mobil continue to attract investors as well. (more…)

Brevan Howard in EM

September 28, 2010

Emerging markets are widely seen as offering better investment opportunities than developed economies, but opinions vary as which emerging markets are more promising. There’s the “Next 11” identified by Goldman Sachs (Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam). Then there are those putting their money on Latin America.

Global macro manager Brevan Howard is opening an office in Brazil, according to the Financial Times. Brevan Howard is not new to emerging markets but its way of investing in the region may be changing. About a year ago (more…)