Hedge Funds

Amaranth veteran energy chief preps commodity fund


Harry Arora, the former chief of Amaranth Advisors' stellar-performing energy desk, is looking to raise about $600 million for a commodity fund slated to launch on July 1.

Arora greatly expanded Amaranth's energy business upon joining in 2002 and left in March, following a year in which his group is said to have run more than a third of the $7.5 billion firm's assets and produced more than one billion dollars in profits. Previously, Arora set up and ran Enron's power trading desk.

ARCIM (Arora Commodity Investment Management) Commodity Fund will pursue directional, relative value and options arbitrage in