Hedge Funds

Touradji buys out Ellis from Catequil


Paul Touradji has bought out his partner Robert Ellis from New York-based commodity firm, Catequil Asset Management. Ellis will contine to trade a commodity portfolio for the firm, but will no longer be co-manager of the overall portfolio. As a result, Catequil is letting investors out of the lock-up without penalty.

Few investors are expected to take the offer as Catequil is having a very good year - it had gained about 8% through mid-August. On average, the partners have netted more than 11% each year since establishing the fund at the beginning of 2001.

Catequil follows an