Bad bets on oil, gas spark wave of energy-fund closures

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Bad bets on oil, gas spark wave of energy-fund closuresThe number of active energy-focused funds fell to just 738 in 2018 through September from about 836 in 2016, according to the latest available data from hedge funds industry tracker Eurekahedge. The number of funds solely focused on oil or gas has tumbled to 179 in 2018 from 194 in 2016. Funds that have suspended operations included high-profile names such as Jamison Capital's macro fund, T. Boone Pickens' BP Capital and Andy Hall's main hedge fund at Astenbeck Capital Management, along with smaller niche funds such as Casement Capital.


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