A new oil and energy derivatives-based hedge fund strategy
is the asset manager's latest move to leverage off the physical
commodities trading expertise of its giant parent group
The planned launch in April of a dedicated oil and
energy-focused fund marks the latest step in the growth of
Galena Asset Management, the hedge fund management subsidiary
of privately owned global commodities trading powerhouse
The firm's new energy fund will be run by Claude Lixi, an
experienced and well-known oil derivatives trader who recently
joined the group after spending some 12 years in oil options
trading at Morgan Stanley and BP.
The Galena Energy Fund will focus on oil and energy futures,
options and swaps - with no physical trading - and will aim,
like Galena's other hedge fund products, to leverage the
information flow of the Trafigura group, which is one of the
world's largest traders of physical commodities.