Houston-based hedge fund Roscommon Analytics is shutting its US natural gas trading desk following losses linked to volatile energy markets, according to a report by the Financial Post citing unnamed people familiar with the situation.
According to the sources, the firm suffered losses in the US power market last year prompting the decision to wind down its gas trading operations. Several US gas and power traders have left the firm as a result.
In a statement, founder and chief executive Kevin Kelley said Roscommon remains financially stable and continues to operate in an orderly manner.
“Roscommon is managing through a challenging period but remains well capitalised and operating in an orderly manner,” Kelley said. “We have the support of our investors and are focused on executing our strategy with discipline. We do not comment on specific trading positions or performance.”
While the gas desk is being closed, the firm will retain a subset of power traders focused on financial transmission rights (FTR) strategies, the people said.
Hedge funds have significantly expanded their footprint in commodities trading since the pandemic as managers sought new sources of return. However, the sector has faced heightened turbulence, with US President Donald Trump’s tariff policies adding to volatility across energy and metals markets.
Roscommon managed approximately $1.36bn in regulatory assets under management at the end of 2024 and employed around 100 staff, according to its most recent regulatory filing. The firm said at the time that it focused primarily on energy commodities across the US and Europe.
The firm had recently expanded its US gas trading capabilities, hiring former Hartree gas trader Michael Ciano in 2025, as well as two former PetroChina International America traders in early 2024.
