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Ex-Citi trader Hall raises $1 bln for hedge fund


Date: Tuesday, June 22, 2010
Author: Reuters

Former Citigroup trader Andrew Hall, who became a lightning rod for criticism over excessive Wall Street bonuses last year, has raised $1.08 billion for an offshore commodities hedge fund.

The Westport, Connecticut-based fund, Astenbeck Offshore Commodities Fund II Ltd, said it had raised the funds from 37 investors in a U.S. Securities and Exchange Commission filing on Monday.

Citigroup Inc (C.N) had come under fire last year for a contract that entitled Hall to a roughly $100 million bonus even after the struggling bank had accepted government funds to support itself. Hall had been the head of the bank's Phibro LLC energy trading business, which Occidental Petroleum Corp (OXY.N) bought from Citigroup last October.

The Park Hill Group, an asset placement agent subsidiary of The Blackstone Group (BX.N), will receive commissions for recruiting investors for the Astenbeck fund, according to the filing.