Ex-Citadel Trader Opening New Hedge Fund

October 2, 2018 James Heinsman Hedge Fund News

Ron Ozer, former portfolio manager at Citadel, opened his own hedge fund which will focus on trading natural gas. Ozer was co-head from July 2015 to April 2017 of the US natural gas trading division at Citadel, which today manages $30 billion.

Statar Capital LLC, Ozer’s new fund, has already raised about $140 million from family offices and institutional clients. Statar is opening its doors at a time in US history when the price of natural gas is flat, with no change foreseen on the horizon.

In contrast to the opening of a new energy-trading fund, several similar funds have closed this past year due to dropping profits and market volatility. For example, Velite Capital in Houston was once one of the most profitable US natural gas trading firms, started closing its operations about two months ago.

The outlook for hedge funds in general is still gloomy. Hedge Fund Research points out that a smaller number of hedge funds were launched in Q2 of 2018 than one year ago, making it the lowest number of launches in a quarter since the Q1 of 2009, right after the financial crisis began.

There is data that shows a smaller number of hedge funds folded this year than in previous years when closings outnumbered launches.

Citadel, Ron Ozer, Statar Capital LLC, Velite Capital,

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