Phibro LLC opening Commodities Hedge Fund to New Investors
| November 22nd, 2009 | ||
| Occidental Petroleum’s (NYSE: OXY) newly acquired energy-trading unit Phibro LLC, a former unit of Citigroup (NYSE: C), has opened up its commodities hedge fund to new investors. Fundraising efforts will be led by the Blackstone Group’s (NYSE: BX) Park Hill Group, a placement agent for alternative investment funds. According to MarketWatch, Phibro, whose head of trading Andrew Hall oversaw the sale of his trading unit to Occidental due to government pay measures enacted at Citigroup. The hedge fund will trade in commodities, such as energy, metals, and agricultural products. Phibro has been extremely successful over the past five years, averaging roughly $371 million in pre-tax profit per year. Andrew Hall will oversee the fund and its investment team. | ||
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For Detailed Investor Profiles on these Investors, click below: |
Phibro LLC |
Astenbeck Capital Management |
Related People: Andrew Hall;
Related Entities: Astenbeck Holdings LLC;
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions
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