This is February’s installment of a series of monthly posts about new commodity pool launches.
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.
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
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||AG CENTRE STREET GP LLC||P124993|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||AG CP IV MASS HOLDINGS CORP||P124779|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||AG EUROPE II REALTY FUND LP||P124290|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||AG EUROPE II REALTY HOLDINGS LP||P124291|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING I CSPV LLC||P124552|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING I SPV LLC||P124551|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING I WSPV LLC||P124553|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING II SPV LLC||P124554|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING V SPV LLC||P124557|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING VII CSPV LLC||P124559|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL FUNDING VII SPV LLC||P124558|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK CAPITAL II WSPV LLC||P124555|
|ANGELO GORDON||ANGELO GORDON & CO LP||0233099||TWIN BROOK EQUITY CORP||P124556|
|BLACKROCK||BLACKROCK ADVISORS LLC||0272844||BLACKROCK 2022 GLOBAL INCOME OPPORTUNITY TRUST||P124635|
|BLACKROCK||BLACKROCK ADVISORS LLC||0272844||BLACKROCK CAPITAL INVESTMENT CORPORATION||P124160|
|BLACKROCK||BLACKROCK FINANCIAL MANAGEMENT INC||0272739||GLOBAL INFRASTRUCTURE SOLUTIONS 3 FEEDER SCSP||P124330|
|BLACKROCK||BLACKROCK FINANCIAL MANAGEMENT INC||0272739||GLOBAL INFRASTRUCTURE SOLUTIONS 3 MASTER SCSP||P124331|
|BREVAN HOWARD||BREVAN HOWARD CAPITAL MANAGEMENT LP||0422773||BREVAN HOWARD AH FUND LIMITED||P124474|
|BREVAN HOWARD||BREVAN HOWARD CAPITAL MANAGEMENT LP||0422773||BREVAN HOWARD AH FUND LP||P124473|
|BREVAN HOWARD||BREVAN HOWARD CAPITAL MANAGEMENT LP||0422773||BREVAN HOWARD AH MASTER FUND LIMITED||P124475|
|CITADEL||CITADEL ADVISORS LLC||0391913||CITADEL TREASURY INTERNATIONAL LTD||P124225|
|CREDIT SUISSE||CREDIT SUISSE ASSET MANAGEMENT LLC||0232207||QT FUND LTD||P124159|
|DISCOVERY||DISCOVERY CAPITAL MANAGEMENT LLC||0299618||DISCOVERY SPECIAL OPPORTUNITIES II LP||P124873|
|DISCOVERY||DISCOVERY CAPITAL MANAGEMENT LLC||0299618||DISCOVERY SPECIAL OPPORTUNITIES II LTD||P124867|
|DISCOVERY||DISCOVERY CAPITAL MANAGEMENT LLC||0299618||DISCOVERY SPECIAL OPPORTUNITIES II MASTER LP||P124872|
|GOLDMAN SACHS||GOLDMAN SACHS ASSET MANAGEMENT LP||0330835||PRIVATE EQUITY MANAGERS 2017 LP||P124737|
|GOLDMAN SACHS||GOLDMAN SACHS ASSET MANAGEMENT LP||0330835||PRIVATE EQUITY MANAGERS 2017 OFFSHORE SCSP||P124739|
|GOLDMAN SACHS||GOLDMAN SACHS ASSET MANAGEMENT LP||0330835||VINTAGE VI MGR LP||P124219|
|GOLDMAN SACHS||GOLDMAN SACHS HEDGE FUND STRATEGIES LLC||0279121||MULTI STRATEGY PORTFOLIO HYPERION||P124488|
|GOLDMAN SACHS||GOLDMAN SACHS HEDGE FUND STRATEGIES LLC||0279121||MULTI STRATEGY PORTFOLIO THEMATIC OPPORTUNITIES LTD||P124487|
|HENDERSON||ALPHAGEN CAPITAL LIMITED||0364034||ALPHAGEN CASTOR FUND LIMITED THE||P124971|
|HENDERSON||ALPHAGEN CAPITAL LIMITED||0364034||ALPHAGEN CASTOR MASTER FUND LIMITED THE||P124970|
|MAN GROUP||AHL PARTNERS LLP||0466390||MAN AHL CROSSROADS LLC||P124149|
|PIMCO||PACIFIC INVESTMENT MANAGEMENT CO LLC||0002988||MAARS HOLDING LP||P124602|
|PIMCO||PACIFIC INVESTMENT MANAGEMENT CO LLC||0002988||PHFS VI SP||P124191|
|PIMCO||PACIFIC INVESTMENT MANAGEMENT CO LLC||0002988||PHFS VI TRENDS MANAGED FUTURES OFFSHORE FUND LP||P124192|
|PIMCO||PACIFIC INVESTMENT MANAGEMENT CO LLC||0002988||PIMCO MULTI ASSET ALTERNATIVE RISK PREMIA STRATEGY MASTER FUND LP||P124603|
|PIMCO||PACIFIC INVESTMENT MANAGEMENT CO LLC||0002988||PIMCO MULTI ASSET ALTERNATIVE RISK PREMIA STRATEGY OFFSHORE FUND LP||P124598|
|TCI||TCI FUND MANAGEMENT LIMITED||0488578||TCI REP CO INVESTMENT I LP||P124579|
|TCI||TCI FUND MANAGEMENT LIMITED||0488578||TCI REP INTERNATIONAL DAC||P124580|
|WELLINGTON||WELLINGTON ALTERNATIVE INVESTMENTS LLC||0449421||ARROW CREEK INVESTORS CAYMAN II LTD||P124170|
|WELLINGTON||WELLINGTON ALTERNATIVE INVESTMENTS LLC||0449421||ELLBROOKE INVESTORS CAYMAN II LTD||P124171|
|WELLINGTON||WELLINGTON ALTERNATIVE INVESTMENTS LLC||0449421||GLOBAL EQUITY ABSOLUTE RETURN INVESTORS CAYMAN II LTD||P124172|
|WELLINGTON||WELLINGTON ALTERNATIVE INVESTMENTS LLC||0449421||HIGH HAITH INVESTORS CAYMAN II LTD||P124173|
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.
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
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