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Galena launches energy fund with seed of USD50m

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Galena Asset Management has launched Galena Energy Fund to trade oil and energy futures, options and swaps. 

Galena Asset Management has launched Galena Energy Fund to trade oil and energy futures, options and swaps. 

Galena is part of the Trafigura Group, the world’s third largest independent oil trader, and the new fund leverages on Trafigura’s proprietary information flow about the physical markets.

Claude Lixi is the lead portfolio manager spearheading the oil and energy initiative.  He has over ten years’ experience in the oil and oil derivative trading markets. Prior to joining Galena, Lixi was senior options trader in the oil derivatives trading desk at Morgan Stanley. He was in charge of Europe and Asia’s oil options trading. Lixi had previously spent seven years at BP where he established and was responsible for BP’s oil options proprietary trading worldwide. 

The fund’s strategy has been seeded by Trafigura with USD50m. Its capacity is expected to be in excess of USD1bn. The fund’s main services providers are NewEdge as prime broker and BNY Mellon as administrator. 

Jeremy Weir, chief executive of the asset management business, says: ‘The addition of the energy fund to our metals and special situations funds enables us to demonstrate the edge we have in energy markets and increase the range of investment solutions we can offer to institutional investors.’

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