Pierre Andurand

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Pierre Andurand (born February 1977 in Aix en Provence, France) is a French businessman and hedge fund manager, specialising in the oil market.[1]

In 2008 Forbes Magazine placed him in its list of the top 20 highest-earning hedge-fund managers.[2] Andurand’s funds have produced cumulative returns of 560% since 2008.[3](subscription required) As of 2012, he is also the Chairman and majority shareholder of Glory Sports International, the parent company of the Glory World Series international kickboxing league.

Early life and education[edit]

Andurand was born in the French city of Aix en Provence. At eight years old, he moved with his family to the French island of Réunion, off the African coast. He spent six years there before returning to Aix en Provence. At the age of seventeen he moved to the city of Toulouse to attend the Institut National des Sciences Appliquées (National Institute of Applied Sciences) At INSA he achieved an Msc in Applied Mathematics before moving to École des Hautes Études Commerciales de Paris (HEC School of Management in Paris), where he achieved an MSc. in International Finance.[4]

A keen swimmer in his youth, Andurand was a member of the French National Junior Swimming Team in 1993 and 1994.[5]

Career[edit]

After graduation Andurand was recruited by Goldman Sachs to work as an oil trader for its commodities trading unit in Singapore.

After Goldman Sachs he joined Bank of America Singapore as a Principal in oil trading. He then joined Vitol in Singapore as a trading manager. Privately owned Vitol is the world’s largest oil trading company, shipping in excess of 200 million tons of crude oil per year. Andurand then moved to London in 2004 and was made a partner. He was rumoured to be one of the most successful traders in the company, earning him a bonus payment of $20 million at the end of one particularly successful year's trading.[5]

Bluegold Capital[edit]

In October 2007, Andurand co-founded the hedge-fund investment group BlueGold. He was the majority shareholder and Chief Investment Officer at BlueGold. The BlueGold Global Fund was then launched in February 2008 with $300 million assets under management. In June of that year, its returns were described by the New York Post as being of "eye-popping" and "monstrous" proportions.[6] Its peak in Assets Under Management reached $2.4 billion. Performance was 210% in 2008, 55% in 2009, 13% in 2010, and -34% in 2011.[7][8](subscription required)[9] BlueGold was closed in April 2012, returning close to 99% of its assets under management within a month, after the founders decided to go their separate ways.[10](subscription required)

Andurand Capital[edit]

In February 2013, Pierre Andurand launched a new hedge fund: Andurand Capital, which invests mostly in commodities including oil but also has a secondary focus on metals and other commodities. As of May 2018, the firm manages $1.2bn in assets and has year-to-date returns of 16%[11](subscription required)[12][13]

In 2013, the Andurand Commodities Fund finished the year as one of the best performing commodities hedge funds with a 25% return.[14](subscription required) In 2014, it generated a 38% return net of all fees by correctly forecasting the sharp decline in crude oil prices. The fund achieved a return of 47% for investors who transferred their money from BlueGold, whose investments are now back above the previous fund’s high water mark, which was honoured by Andurand Capital.[15][16][17][18][19]

In 2016 Andurand turned bullish on oil, amid a bear market that saw oil at a 12-year low of $30 a barrel. He returned 22% that year.[20]

Glory World Series[edit]

A martial arts fan,[2] Andurand turned to kickboxing as a means to keep fit while working as an oil trader. He formed Glory World Series after rival series K-1 ran into financial difficulties and refused Andurand's offer of a buy-out.

In September 2016 Glory Sports International announced a Series B financing round with Yao Capital, the investment firm founded by Chinese basketball star Yao Ming, acquiring a significant strategic stake in the company; Liberty Global also participated in the syndicate. Existing Glory shareholders, including TwinFocus Capital Partners of Boston, also participated in the financing round.[21]

Marriage[edit]

In 2011, Andurand married the Russian model Yevgenia Slyusarenko in a ceremony staged at the Catherine Palace near St. Petersburg.[22]

References[edit]

  1. ^ "Director info". Company Check.
  2. ^ a b "BlueGold's kickboxing oil trader aims to strike back". Reuters. February 10, 2010.
  3. ^ "Subscribe to read". Financial Times. Retrieved 2018-06-18.
  4. ^ "Optimiste, réaliste… et de bonne réputation" (in French). l'Ecole des Hautes Etudes Commerciales (HEC).
  5. ^ a b "Oil Hedge Fund BlueGold to Liquidate". MoneyNews. April 6, 2012.
  6. ^ Whitehouse, Kaja. "'SLICK' BETS PROPEL BLUEGOLD RETURNS A MONSTROUS 160%". New York Post.
  7. ^ Aldrick, Philip. "BlueGold closes and returns funds to investors". Telegraph.
  8. ^ MacIntosh, James. "BlueGold coins it". FT Alphaville.
  9. ^ King, Ian. "BlueGold swims against the tide". Times.
  10. ^ Jones, Sam. "BlueGold hedge fund liquidates assets". Financial Times.
  11. ^ Sheppard, David; Hume, Neil (2015-09-01). "Oil bear bets on return to $25 a barrel". Financial Times. ISSN 0307-1766. Retrieved 2015-10-09.
  12. ^ Kishan, Alex Nussbaum anussbaum1 Saijel (2016-09-15). "Andurand Stays Bullish on Oil, Predicting 'Hefty' Drop in Supply". Bloomberg.com. Retrieved 2016-09-27.
  13. ^ Yang, Stephanie (2018-06-25). "Oil Hedge Funds Struggle in Age of Algos". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-06-28.
  14. ^ Hume, Neil. "Investors starting to look at commodities again". FT.com. Pearson. Retrieved 20 February 2015.
  15. ^ "Taylor Woods, Andurand Shine As Commodity Funds Suffer". FIN Alternatives.
  16. ^ Foster, Mike (Jan 8, 2015). "eFinancial News". The trend is AHL's friend, at last. Dow Jones. Retrieved 16 February 2015.
  17. ^ Fortado, Lindsay. "Andurand Hedge Fund Said to Gain 18% in November Shorting Oil". Bloomberg Business. Bloomberg. Retrieved 16 February 2015.
  18. ^ Wainewright, Will. "Andurand Hedge Fund Said to Gain 38% Last Year on Oil Slide Bet". Bloomberg Business. Bloomberg. Retrieved 16 February 2015.
  19. ^ Sheppard, David. "Hedge fund manager Andurand strikes gold again by betting on oil crash". Reuters.com. Reuters. Retrieved 16 February 2015.
  20. ^ Editorial, Reuters. "Energy hedge fund Andurand up 22.2 pct in 2016 - source". U.K. Retrieved 2018-06-18.
  21. ^ International, Glory Sports. "Yao Capital and Liberty Global Conclude Strategic Investment in GLORY". www.prnewswire.com. Retrieved 2016-09-27.
  22. ^ "In the spotlight: Elton John in St Petersburg". St Petersburg Times.