GuaranteedWeather launches fund while Pyrenees closes
Kansas-based weather derivatives dealer GuaranteedWeather and Ramsey Quantitative Systems, both part of investment adviser Ramsey Financial, have revealed they launched a weather hedge fund, Parhelion, in June.
Meanwhile, another weather hedge fund, Connecticut-based Pyrenees Capital Management, closed at the end of October, a year after its launch.
Two of Pyrenees' three staff - Jeff Bortniker, the former fund's founder, and Coi Dang - have moved to energy trader Sempra Commodities to set up a
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