BlueGold, which was a highly touted commodity-investment fund launched in 2008, says it will liquidate and return money to investors.
This could cause a downdraft in commodities as other players try to front-run sales on their positions. BlueGold is/was said to hold about $2 billion but it’s likely leveraged.
The last year has been a rocky ride at the fund. Stephen Jen, who was a superstar FX strategist at Morgan Stanley, left to join Bluegold in 2008, but he quit in October to start his own fund, SLJ Macro Partners.
