commodity pool launches February 2017

This is February’s installment of a series of monthly posts about new commodity pool launches.

Highlights

Of note this month:

  • A big uptick in the rate of pool registration. This post covers roughly 3 weeks and saw 601 pools registered, a rate of around 200/week. However, compared to the last post, there were fewer pools registered by big name firms.
  • Angelo Gordon was active again, adding 9 new pools to its Twin Brook Capital Funding series and 4 others
  • Blackrock, Brevan Howard, Goldman Sachs, and Wellington continue to be active, registering 4, 3, 5, and 4 pools each respectively.
  • Citadel, Credit Suisse, and Man Group each added a pool in addition to those added last month
  • Discovery, Henderson, PIMCO, and TCI became active this month registering 3, 2, 5, and 2 pools.
  • Strategies featured in the new pools include real estate, infrastructure, special opportunities, private equity, multi-strategy, and alternative risk premia.

Please let me know in the comments if this kind of overview is helpful, or if there is something of particular interest to you that you would like me to address.

Background

A hedge fund is typically registered as commodity pool, and the underlying strategy can often be inferred from the name. New pool registrations give you useful market and competitive information! If nothing else, you may get a heads-up that a competitor is bringing something new to market.

The source of data is the National Futures Association’s (NFA) Background Affiliation Status Information Center (BASIC) website. These posts will form a series parallel to the one I recently started on the largest hedge funds by regulatory assets under management. That series uses data sourced from the SEC’s Investment Advisor Public Depository website.

Around 500 new pools are registered with the NFA each month, so I don’t have space to list them all here. I will limit the table to those pools registered by the largest hedge fund firms. This way you will be able to see the latest product-related strategic moves being made by the biggest players.

Get the Raw Data

If you are interested in a data file which includes the 601+ most recently registered pools use the adjacent “Request File” button. If you want the file delivered to an email address let me know via our contact form (opens in a new tab).

The February file is no longer available. The button will deliver the current version.

New Commodity Pool Launches February 2017

groupNameCPO.NameCPO.IDPool.NamePool.ID
ANGELO GORDONANGELO GORDON & CO LP0233099AG CENTRE STREET GP LLCP124993
ANGELO GORDONANGELO GORDON & CO LP0233099AG CP IV MASS HOLDINGS CORPP124779
ANGELO GORDONANGELO GORDON & CO LP0233099AG EUROPE II REALTY FUND LPP124290
ANGELO GORDONANGELO GORDON & CO LP0233099AG EUROPE II REALTY HOLDINGS LPP124291
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING I CSPV LLCP124552
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING I SPV LLCP124551
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING I WSPV LLCP124553
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING II SPV LLCP124554
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING V SPV LLCP124557
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING VII CSPV LLCP124559
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL FUNDING VII SPV LLCP124558
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK CAPITAL II WSPV LLCP124555
ANGELO GORDONANGELO GORDON & CO LP0233099TWIN BROOK EQUITY CORPP124556
BLACKROCKBLACKROCK ADVISORS LLC0272844BLACKROCK 2022 GLOBAL INCOME OPPORTUNITY TRUSTP124635
BLACKROCKBLACKROCK ADVISORS LLC0272844BLACKROCK CAPITAL INVESTMENT CORPORATIONP124160
BLACKROCKBLACKROCK FINANCIAL MANAGEMENT INC0272739GLOBAL INFRASTRUCTURE SOLUTIONS 3 FEEDER SCSPP124330
BLACKROCKBLACKROCK FINANCIAL MANAGEMENT INC0272739GLOBAL INFRASTRUCTURE SOLUTIONS 3 MASTER SCSPP124331
BREVAN HOWARDBREVAN HOWARD CAPITAL MANAGEMENT LP0422773BREVAN HOWARD AH FUND LIMITEDP124474
BREVAN HOWARDBREVAN HOWARD CAPITAL MANAGEMENT LP0422773BREVAN HOWARD AH FUND LPP124473
BREVAN HOWARDBREVAN HOWARD CAPITAL MANAGEMENT LP0422773BREVAN HOWARD AH MASTER FUND LIMITEDP124475
CITADELCITADEL ADVISORS LLC0391913CITADEL TREASURY INTERNATIONAL LTDP124225
CREDIT SUISSECREDIT SUISSE ASSET MANAGEMENT LLC0232207QT FUND LTDP124159
DISCOVERYDISCOVERY CAPITAL MANAGEMENT LLC0299618DISCOVERY SPECIAL OPPORTUNITIES II LPP124873
DISCOVERYDISCOVERY CAPITAL MANAGEMENT LLC0299618DISCOVERY SPECIAL OPPORTUNITIES II LTDP124867
DISCOVERYDISCOVERY CAPITAL MANAGEMENT LLC0299618DISCOVERY SPECIAL OPPORTUNITIES II MASTER LPP124872
GOLDMAN SACHSGOLDMAN SACHS ASSET MANAGEMENT LP0330835PRIVATE EQUITY MANAGERS 2017 LPP124737
GOLDMAN SACHSGOLDMAN SACHS ASSET MANAGEMENT LP0330835PRIVATE EQUITY MANAGERS 2017 OFFSHORE SCSPP124739
GOLDMAN SACHSGOLDMAN SACHS ASSET MANAGEMENT LP0330835VINTAGE VI MGR LPP124219
GOLDMAN SACHSGOLDMAN SACHS HEDGE FUND STRATEGIES LLC0279121MULTI STRATEGY PORTFOLIO HYPERIONP124488
GOLDMAN SACHSGOLDMAN SACHS HEDGE FUND STRATEGIES LLC0279121MULTI STRATEGY PORTFOLIO THEMATIC OPPORTUNITIES LTDP124487
HENDERSONALPHAGEN CAPITAL LIMITED0364034ALPHAGEN CASTOR FUND LIMITED THEP124971
HENDERSONALPHAGEN CAPITAL LIMITED0364034ALPHAGEN CASTOR MASTER FUND LIMITED THEP124970
MAN GROUPAHL PARTNERS LLP0466390MAN AHL CROSSROADS LLCP124149
PIMCOPACIFIC INVESTMENT MANAGEMENT CO LLC0002988MAARS HOLDING LPP124602
PIMCOPACIFIC INVESTMENT MANAGEMENT CO LLC0002988PHFS VI SPP124191
PIMCOPACIFIC INVESTMENT MANAGEMENT CO LLC0002988PHFS VI TRENDS MANAGED FUTURES OFFSHORE FUND LPP124192
PIMCOPACIFIC INVESTMENT MANAGEMENT CO LLC0002988PIMCO MULTI ASSET ALTERNATIVE RISK PREMIA STRATEGY MASTER FUND LPP124603
PIMCOPACIFIC INVESTMENT MANAGEMENT CO LLC0002988PIMCO MULTI ASSET ALTERNATIVE RISK PREMIA STRATEGY OFFSHORE FUND LPP124598
TCITCI FUND MANAGEMENT LIMITED0488578TCI REP CO INVESTMENT I LPP124579
TCITCI FUND MANAGEMENT LIMITED0488578TCI REP INTERNATIONAL DACP124580
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC0449421ARROW CREEK INVESTORS CAYMAN II LTDP124170
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC0449421ELLBROOKE INVESTORS CAYMAN II LTDP124171
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC0449421GLOBAL EQUITY ABSOLUTE RETURN INVESTORS CAYMAN II LTDP124172
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC0449421HIGH HAITH INVESTORS CAYMAN II LTDP124173
groupName: Name of affiliate group to which the CPO belongs
CPO.Name: Name of CPO
CPO.ID: NFA ID of the CPO
Pool.Name: Name of registered pool
Pool.ID: NFA ID of the registered pool

Contact me to discuss custom research and reporting projects.

Methodology

In order to complete the research for this post, I made use of a script in R using the RSelenium package. I have previously published a post about how to set up RSelenium using the latest version of Selenium, and an earlier post reviewing some of the most useful functions in the package. This package makes it possible to automate the collection of data from websites; the process is called web-scraping.

The NFA assigns pool ID numbers in numerical order. I start with the most recently identified pool and increment the pool ID, then search in BASIC for that pool. If the pool is found, I record the name(s) and ID(s) of the Commodity Pool Operator(s). I also check for the date the pool ceased trading futures or ceased trading altogether, to ensure I do not include dead pools. I keep going until I run out of pools (I check at least 100 successive pool IDs have no pool associated with them).

Finally, for the purpose of this post, I purge the list of pool operators who do not appear on my 100 largest hedge funds master list. Note that this list includes about 350+ firms who are affiliated with the various large hedge fund companies.

Image Source: Gabor Kovacs

New Commodity Pool Launches

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