Phibro’s Hall Reports Largest Drop at Astenbeck Fund
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Andrew J. Hall, the oil trader whose $100 million compensation while at Citigroup Inc. ignited controversy in 2009 over pay packages at bailed-out banks, posted his commodity hedge fund’s biggest annual loss last year.
Astenbeck Capital Management LLC, the $3.5 billion fund company that is 80 percent owned by Hall and 20 percent by Occidental Petroleum Corp., lost 8.3 percent in its main fund, according to an investor letter obtained by Bloomberg News. That loss, the second in the six-year-old fund’s history, was extended in January with a 2.1 percent decline.