Commodities fund Jamison Capital to shut – source
NEW YORK/LONDON (Reuters) – Jamison Capital Partners LP, a New York-based macro commodity hedge fund run by former Morgan Stanley (NYSE:) trader Stephen Jamison, will be shutting its nearly $1.5 billion fund and convert to a family office, a source familiar with the matter said on Thursday.
The closure of Jamison, one of the largest commodity-focused hedge funds, comes after several other big names have closed shop in recent months. They include hedge fund manager Andy Hall, who closed his Astenbeck Capital Management last summer, and Texas tycoon T. Boone Pickens, who said this month that he was closing his fund, in part due to declining health.
Source: Exclusive: Commodities fund Jamison Capital to shut – source By Reuters
The Lochridge Energy Onshore Fund ranked #6 for both performance and Sharpe Ratio for 2016 in BarclayHedge’s Discretionary Traders Managing more than$10 million category.
The founders of commodities hedge-fund firm Taylor Woods Capital Management are splitting up after a 14% loss last year, according to people familiar with the matter and an investor letter.
Article 1: Taylor Woods Hedge-Fund Founders to Split After 14% Loss in 2016 – WSJ
Article 2: http://www.institutionalinvestor.com/article/3661426/asset-management-hedge-funds-and-alternatives/commodities-hedge-fund-taylor-woods-capital-management-restructures.html#.WKcXaPnytPY
Rocked by the fall in oil-and-gas prices, some energy-focused private-equity funds are pleading with their investors for more time and money.
Source: Facing Losses, Energy Funds Ask Investors for More Time, Money – WSJ
Top executives at Riverstone Holdings LLC, one of the world’s largest energy investment firms, face the prospect of returning more than $300 million of profits they made from investments before the oil bust erased those gains, according to securities filings and people familiar with the matter.The money is related to an incentive formula employed at private-equity firms in which executives earn a cut of profits above a certain threshold for each fund.In Riverstone’s case, profits in some of its funds shriveled after U.S. oil prices plunged to below $27 a barrel earlier this year from more than $100 in mid-2014. That decline reduced the value of some companies owned by Riverstone, eliminating paper gains and could require some executives to return profits in a so-called clawback if the investments don’t regain value before the funds that hold them are liquidated.David Leuschen and Pierre Lapeyre Jr., who founded Riverstone and remain its majority owners, are the primary recipients of its portion of deal profits, known as carried interest. Through a spokesman, Messrs. Leuschen and Lapeyre declined to comment.While most private-equity funds usually keep details of their fund performance and structure private, industry executives say clawbacks are rare. Most firms want to avoid having to recall payments made to executives, some of whom may have left the firm or already spent the cash.
Source: Top Executives at Riverstone Holdings Face Prospect of Returning More Than $300 Million – WSJ