The US-based energy and environment experts Peter C Fusaro and Gary M Vasey have launched Energy & Environment Capital Management LLC.
Fusaro and Vasey are the co-founders of the Energy Hedge Fund Center, an online community focused on energy, environment and hedge funds, and are the co-editors of the online newsletter, Energy Hedge. Their forthcoming book 'Energy & Environmental Hedge Funds - The New Investment Paradigm' (Wiley, June 2006), is set to be released this summer.
The number of energy hedge funds has steadily grown over the last 24-months as investor appetite for commodities generally and energy commodities specifically, has soared. The majority of energy hedge funds are either commodity trading or equity long/short funds with the most recent growth in commodity trading funds taking place in Europe.
GLG Partners, one of Europe's leading independent asset management companies, announced this week that Danilo Onorino has joined the firm as a Portfolio Manager, with a special focus on energy related stocks. Onorino will work with GLG's Pierre Lagrange on the firm's European long-short fund.
Onorino has extensive asset management experience in the energy sector, with a proven eight-year track record in managing various energy portfolios. Before joining GLG in May this year, Onorino was a Portfolio Manager at Theorema Asset Management in London for two years. Prior to this, he spent four years at Arca SGR S.p.A in Milan, where he was a Portfolio Manager and the Head of Energy. He also worked as an equity analyst, concentrating on the energy sector and derivatives at Lehman Brothers and Bank of America.
Emmanuel Roman, partner and co-Chief Executive of GLG Partners, said: "Danilo's extensive knowledge of the energy sector will be a valued contribution to our European long-short program and will serve to enhance the fund's increased focus on the energy sector."
Gary M Vasey, co-founder of the Energy Hedge Fund Center LLC, said: 'Over five per cent of the hedge fund universe now has a good deal of exposure to energy via commodities, equities and debt,' said. 'Many other hedge funds also have some energy exposure today marking the transition of energy from a 'dull' industry to the hottest sector for investors today.'
'We are continuing to see more new funds in formation and many more in commodity trading this spring. It augurs well for a sustained ramping up of more new energy hedge fund managers,' said Peter C Fusaro, co-founder, Energy Hedge Fund Center LLC.