Advisors

Nearly five years after high-flying hedge fund Amaranth Advisors collapsed with a $6 billion loss, FERC Thursday determined that leading Amaranth trader Brian Hunter manipulated the gas futures market and imposed a civil penalty on him of $30 million (see Daily GPI, Sept. 26, 2006).

Houston-based EnCap Investments LP and partner Flatrock Energy Advisors, headquartered in San Antonio, have created the EnCap Energy Infrastructure Fund LP with total capital commitments of $791.6 million. The fund is tailored for investments in midstream businesses in North America. The fund managers plan to provide growth capital to “proven” management teams of gathering pipelines, natural gas treatment and processing plants, as well as interstate pipelines and storage. The midstream fund already has committed $215 million to five portfolio energy companies that include Cardinal Midstream and Rangeland Energy.

Houston-based EnCap Investments LP and partner Flatrock Energy Advisors, headquartered in San Antonio, have created the EnCap Energy Infrastructure Fund LP with total capital commitments of $791.6 million. The fund is tailored for investments in midstream businesses in North America. The fund managers plan to provide growth capital to “proven” management teams of gathering pipelines, natural gas treatment and processing plants, as well as interstate pipelines and storage. The midstream fund already has committed $215 million to five portfolio energy companies that include Cardinal Midstream and Rangeland Energy.

Houston-based EnCap Investments LP and partner Flatrock Energy Advisors, headquartered in San Antonio, have created the EnCap Energy Infrastructure Fund LP with total capital commitments of $791.6 million. The fund is tailored for investments in midstream businesses in North America. The fund managers plan to provide growth capital to “proven” management teams of gathering pipelines, natural gas treatment and processing plants, as well as interstate pipelines and storage. The midstream fund already has committed $215 million to five portfolio energy companies that include Cardinal Midstream and Rangeland Energy.

Citing the apparent trading irregularities of Amaranth Advisors LLC and large positions taken by the United States Natural Gas Fund LP (UNG) as evidence of the need for aggressive action, the Commodity Futures Trading Commission (CFTC) last Thursday voted out a notice of proposed rulemaking (NOPR) that would set limits on speculative trading of exchange-traded futures and options contracts in major energy markets.

Citing the apparent trading irregularities of Amaranth Advisors LLC and large positions taken by the United States Natural Gas Fund LP (UNG) as evidence of the need for action, the Commodity Futures Trading Commission (CFTC) Thursday voted out a notice of proposed rulemaking (NOPR) that would set limits on speculative trading of exchange-traded futures and options contracts in major energy markets.

Collapsed hedge fund Amaranth Advisors LLC, seven affiliates and former trader Matthew Donohoe last Thursday submitted a joint offer of settlement to FERC to resolve all claims that they manipulated the market to influence natural gas futures prices.

Collapsed hedge fund Amaranth Advisors LLC, seven affiliates and former trader Matthew Donohoe Thursday submitted a joint offer of settlement to FERC to resolve all claims that they manipulated the market to influence natural gas futures prices.

Kayne Anderson Capital Advisors LP has closed its fifth private equity energy fund with total commitments of $820 million. The Houston-based fund has invested in more than 50 energy companies since 1998. Like prior funds, the new fund will invest in “early to mid-stage” North American oil and gas companies with typical investments ranging from $20 million to $150 million, officials said. Previous investments by Kayne Anderson have included Millennium Midstream Partners LP (see Daily GPI, Sept. 17, 2008) and Crestwood Midstream Partners LLC (see Daily GPI, June 26, 2008).