Hedge Funds

Griffon to launch carbon, gas funds

by

Texas-based Griffon Energy Capital, a four-year-old commodity trading firm with less than $1 billion in assets, is gearing up to launch two new funds in the next six months.

The new vehicles are part of an effort to refocus the firm's flagship fund, an energy portfolio initially interested in natural gas that broadened its investments over the past few years to include crude oil, refined products, electricity, coal and emissions. Though January was a rocky month for the flagship, its returns have been fairly stable, according to someone close to the firm. Management believes that by streamlining its