Oil Hedge Fund BlueGold To Shut Down

Law360, New York (April 5, 2012, 7:20 PM EDT) -- British commodities hedge fund BlueGold Capital Management LLP, formerly known for its massive returns, told investors in a letter Thursday that it plans to liquidate and return their money, according to news reports.

In the letter, obtained by the Financial Times, BlueGold reportedly said that it planned to return 98 percent of investors' capital by May, and make final distributions by the end of the year, adjusting for any gains or losses on its two existing equity positions.

The $1.1 billion energy fund, run by former...
To view the full article, register now.