Launches & Closures

Ex-Touradji head trader Paul Crone's Citrine opens with strong performance, modest assets

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Paul Crone, once co-portfolio manager of billions of dollars at Touradji, has raised $100 million.

At Touradji Capital Management, Paul Crone was head trader and co-portfolio manager for as much as $3.5 billion in assets. After striking out on his own this fall he has marched directly into a humbling environment for new launches, and manages a little over $100 million at his new Citrine Capital Management, according to people close to the firm.

Headquartered in New York, the metals-focused Citrine has managed to buck at least one trend: The firm is actually making money in commodities. From the beginning of trading in March through the end of October, Citrine is