Current news for this fund:
BP Capital - Energy
Count of distinct funds: 1
T. Boone Pickens' hedge fund BP Capital, which invested heavily in energy, has seen its assets under management drop from around $2 billion to "between $400 million and $500 million after expected withdrawals" the WSJ reports:
The losses have hit Pickens' pocket as he has lost some $400 million of his own money in his funds. Further, approximately 20% of the remaining AUM for BP Capital will be Pickens.
Another fund of Pickens that invested in commodities is reported to be down some 84% on the year.
Despite these severe losses and redemptions, Mr. Pickens remains optimistic, telling 60 minutes that "I'll get it back". We'll see.
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Important: This fund is on our list of hedge funds that are apparently ailing or which we think are worth watching for any other reason. Ailing funds haven't shut down, but they've suffered significant value declines and/or temporarily halted redemptions. Funds on watch may not even have unusual declines, but may be posted if it is felt there may be risk of developing a more serious condition eventually.