Amaranth’s Losses Could Exceed $6B; More Hedge Funds to Follow?

Recent sharp gas futures declines have undercut a second hedge fund in as many months. Greenwich, CT-based Amaranth Advisors LLC revealed last week that bad bets in natural gas futures have cost the company about 65% of its $9.5 billion asset value. Even more troubling is that other funds could follow, according to industry sources.

September 25, 2006

Citing Amaranth, CT Attorney General Calls for More Fund Oversight

With more questions than answers surrounding Greenwich, CT-based Amaranth Advisors LLC’s significant losses due to a slumping natural gas market, Connecticut Attorney General Richard Blumenthal reiterated Tuesday his long-standing call for more oversight of hedge funds in general.

September 20, 2006

Amaranth Hedge Fund Reportedly Records More than $2.5B Loss

It appears that the recent volatility in natural gas markets has undercut its second hedge fund in as many months as reports on Greenwich, CT-based Amaranth Advisors LLC, which has $7.5 billion in assets under management, said year-to-date losses might exceed 35% (more than $2.625 billion) due to last week’s plunge in natural gas prices.

September 19, 2006

Industry Brief

Sempra Energy Trading announced it has relocated its corporateheadquarters to Stamford, CT, from Greenwich. The energy marketersigned a 10-year-lease on a 35,000 square-foot renovated warehousein Commerce Park. The new space is nearly double the size ofSempra’s former offices and features a 15,000-square-foot tradingfloor. “It is large enough to accommodate our future growth plans,”said David Messer, president of Sempra Energy Trading. Thewarehouse space was transformed easily into a trading floor due toits high ceilings, open space and heavy power supply, he added. Therenovations included the addition of a new trading floor, offices,conference rooms, cafeteria and library. Currently, the newheadquarters houses 153 employees. Formerly known as AIG Trading,Sempra Energy Trading adopted its current name when it was jointlyacquired by Sempra Energy (formed by the merger of Enova Corp. andPacific Enterprises) in August 1997.

March 17, 1999