Fund launches & closures

BlueGold returns capital after rollercoaster four-year run

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BlueGold Capital Management, the London-based oil and energy derivatives trading fund led by CIO Pierre Andurand and CEO Denis Crema, is winding down and returning capital to investors after an extraordinary four-year rollercoaster run in which it was regularly among the best and worst performers in the European hedge fund industry.

Launched in February 2008 by former Vitol senior traders Andurand and Crema, the firm’s flagship BlueGold Global Fund leapt to prominence with a spectacular return of over 200% in its first year of trading – despite making double-digit losses in two out of its 11 months that