Andrew Hall’s Astenbeck Capital raises more than $1 billion for new commodities hedge fund

June 27th, 2010
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Andrew Hall has raised $1.08 billion for his firm’s new hedge fund, the Astenbeck Offshore Commodities Fund II Ltd. According to Reuters, Astenbeck Capital Management revealed in a SEC last week that the funds were pooled from 37 investors.

Before the public criticism Citigroup Inc (NYSE: C) faced last year for a contract which guaranteed Hall would receive a $100 million bonus, Hall had led the Citi’s Phibro LLC energy trading business. Amid the controversy, Citigroup decided to sell the unit to Occidental Petroleum Corp (NYSE: OXY). While Phibro LLC continues to manage proprietary capital for Occidental, the firm launched Astenbeck Capital earlier this year to manage hedge funds for external investors. Mr. Hall owns 80% of Astenbeck Capital, while Occidental owns the remaining 20%.

The SEC filing also revealed that the Blackstone Group’s (NYSE:BX) asset placement subsidiary Park Hill Group is helping Astenbeck Capital in its fund raising efforts.
For Detailed Investor Profiles on these Investors, click below:
Astenbeck Capital Management
Phibro LLC
Related People: Andrew Hall; Andrew Hall
Related Entities: Astenbeck Holdings LLC; Citigroup*; Occidental Petroleum Corporation; Phibro Commodoties Fund*; Phibro LLC; Phibro Oil Fund*; Astenbeck Capital Management; Astenbeck Commodities Fund II LP; Citigroup*; Occidental Petroleum Corporation (NYSE: OXY); Phibro Commodities Fund; Phibro Oil Fund
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings


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