New Commodity Pools Registered April 2017.

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

Highlights

Of note this month:

  • A big slow down in the rate of pool registration. This post covers roughly 26 calendar days and saw 391 pools registered, a rate of around 105/week – much lower than the 250/week we saw last time. The big name firms in total were registering pools at a rate of 9/week, way below the 30+ we saw in the last post.
  • Wellington was most active setting up 6 new opaquely named pools.
  • Tudor looks like it is re-jiggering things having set up a series of 7 trading LPs.
  • GMO has established a fund aiming to capitalize on climate change.
  • AQR has added another offshore style premia fund, presumably a feeder.
  • In a similar vein, Goldman has established a customized risk premia pool.

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 run in parallel with my other series on biggest hedge funds by regulatory assets under management. That series uses data sourced from the SEC’s Investment Advisor Public Depository website.

Between 400 and 800 new pools are registered with the NFA each month, so I don’t have space to list them all here. I limit the table to those pools registered by the largest hedge fund firms. This way you can 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 390+ 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 – mention “NFA Pool File” in the message box).

Contact me to discuss custom research and reporting projects.

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

New Commodity Pool Launches April 2017

groupNameCPO.NameCPO.IDPool.NamePool.ID
AQRAQR CAPITAL MANAGEMENT LLC285701AQR STYLE PREMIA PM OFFSHORE FUND II LTDP126124
AVENUEAVENUE AVIATION OPPORTUNITIES PARTNERS II OFFSHORE LLC502980AVENUE AVIATION OPPORTUNITIES FUND II OFFSHORE MASTER LPP126129
AVENUEAVENUE AVIATION OPPORTUNITIES PARTNERS II OFFSHORE LLC502980AVENUE AVIATION OPPORTUNITIES FUND II OFFSHORE MASTER LPP126130
AVENUEAVENUE CAPITAL MANAGEMENT II, L.P.397172AVENUE AVIATION OPPORTUNITIES FUND II OFFSHORE MASTER LPP126129
BLACKROCKBLACKROCK FUND ADVISORS229147ISHARES IBONDS DEC 2023 TERM MUNI BOND ETFP126446
BLACKROCKBLACKROCK INVESTMENT MANAGEMENT LLC298090AL NOUR PRIVATE OPPORTUNITIES FEEDER FUND LPP126139
BLACKROCKBLACKROCK INVESTMENT MANAGEMENT LLC298090AL NOUR PRIVATE OPPORTUNITIES FUND LPP126140
BLACKROCKBLACKROCK INVESTMENT MANAGEMENT LLC298090NJDOI CORE PLUS REAL ESTATE INVESTMENT PROGRAM LPP126177
BLACKROCKBLACKROCK INVESTMENT MANAGEMENT LLC298090NJDOI OPPORTUNISTIC REAL ESTATE INVESTMENT PROGRAM LPP126178
CITADELCITADEL ADVISORS LLC391913CITADEL ENERGY INVESTMENTS FUND IRELAND ICAVP126267
CITADELCITADEL ADVISORS LLC391913CITADEL ENERGY INVESTMENTS IRELAND DESIGNATED ACTIVITY COMPANYP126268
CREDIT SUISSECREDIT SUISSE ASSET MANAGEMENT LLC232207ROSE HILL SENIOR LOAN FUNDP126174
GAMGAM USA INC232150GAM OPPORTUNISTIC CREDIT FUND LPP126304
GMOGMO TRUSTF005299GMO CLIMATE CHANGE FUNDP126378
GOLDENTREEGOLDENTREE ASSET MANAGEMENT LP359029GOLDENTREE 2017 K SC LTDP126415
GOLDMAN SACHSGOLDMAN SACHS ASSET MANAGEMENT LP330835CUSTOMIZED ALTERNATIVE RISK PREMIA SUB TRUSTP126407
GOLDMAN SACHSGOLDMAN SACHS ASSET MANAGEMENT LP330835PE CSEC OFFSHORE II LPP126221
GOLDMAN SACHSGOLDMAN SACHS ASSET MANAGEMENT LP330835VISION VI VINTAGE VI INCP126220
J.P. MORGANJP MORGAN INVESTMENT MANAGEMENT INC233420JPMORGAN GLOBAL BOND OPPORTUNITIES ETFP126319
J.P. MORGANJP MORGAN PRIVATE INVESTMENTS INC296200CD&R FUND X PRIVATE INVESTORS CAYMAN LPP126199
J.P. MORGANJP MORGAN PRIVATE INVESTMENTS INC296200VINTAGE 2017 PRIVATE INVESTMENTS OFFSHORE SICAV RAIF S C S PP126105
PIMCOALLIANZ GLOBAL INVESTORS US LLC423330ALLIANZGI GLOBAL HIGH YIELD FUNDP126230
TUDORTUDOR INVESTMENT CORPORATION90145TUDOR TRADING III LPP126236
TUDORTUDOR INVESTMENT CORPORATION90145TUDOR TRADING IV LPP126238
TUDORTUDOR INVESTMENT CORPORATION90145TUDOR TRADING V LPP126239
TUDORTUDOR INVESTMENT CORPORATION90145TUDOR TRADING VI LPP126240
TUDORTUDOR INVESTMENT CORPORATION90145TUDOR TRADING VII LPP126241
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC449421MAGDALENA INVESTORS CAYMAN LPP126158
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC449421MAGDALENA INVESTORS CAYMAN LTDP126156
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC449421MAGDALENA MASTER INVESTORS CAYMAN LPP126155
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC449421MAGDALENA PARTNERS LPP126157
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC449421QUISSETT BMD MBP126203
WELLINGTONWELLINGTON ALTERNATIVE INVESTMENTS LLC449421QUISSETT MBP126202
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: David di Veroli on the Unsplash website.

New Commodity Pool Launches

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Biggest Hedge Funds By $AUM

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