New York (HedgeCo.net) – Hedge fund manager logi Energy announced today that it has made an offer to CIT Group’s Board of Directors for a small portion of their middle market lenders debt portfolio. The offer increases the options available to the board as it works through restructuring and a possible pre-packaged bankruptcy, which CIT is negotiating with bondholders.

“Our proposal provides CIT increased liquidity, without the complexity of additional debt. This allows them to address short-term challenges and extend the time period with which to deal with bondholders. We think that the core of the CIT franchise is fundamentally sound and simply needs the benefit of increasing consumer economic activity,” said Lorenzo Ortega III, CIO of logi. “It would be damaging to small businesses nationwide, and CIT’s shareholders, if the company was unable to avoid bankruptcy. What we are proposing is to be part of the solution.”

logi Energy has offered in excess of $1B for a portion of CIT’s debt portfolio and anticipates closing a transaction within 30 days of acceptance of the proposal.

“We think we could also provide opportunity for other purchases from CIT” said Ortega.

logi Energy is a group of financial and engineering professionals with substantial experience in finance, oil and gas exploration and production, large projects and Energy. logi Energy has formed The Peak Oil Value Fund, a focused hedge fund to purchase interests in, and provide operating capital to, strategically valued, public and private oil, gas and energy-centric companies.

Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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Tags: hedge-fund-manager, oil and gas exploration, peak oil, substantial experience

New York (HedgeCo.net) – Hedge fund investor, logi ENERGY LLC., has announced the formation of The Peak Oil Value Fund. Launched September 8, the new hedge fund is the first of its kind aimed at institutional and accredited investors.

“We believe that the effects of Peak Oil on the markets are a temporary Global Macro series of events” Larry Ortega CIO of the Peak Oil Value Fund said, “We only have a few years to take advantage of these opportunities.“

The fund’s investment strategy employs five approaches: 1) Publicly Traded Equities and Equity Options; 2) Investment in oil in storage; 3) Investment in Oil, Gasoline and Heating Oil spreads in the Futures Markets; 4) Private Investment in Public Equities of Oil and Gas Exploration Companies; and 5) Private Investment in Private Companies or Oil and Gas Fields.

“Our superb models developed by our deep, complex team of expert geophysicists, mathematicians, oil professionals and oil traders have been able to predict and identify the fluctuations of oil prices and indicate when we expect prices to move based on both fundamentals of oil production and demand as well as storage, refinery processing, price action and economic utilization.” Ortega said, “They are not perfect, but we’re extremely pleased with the results. We invest like Warren Buffett, which is we make our money when we purchase our positions at deep value, thus the effects of our errors are minimal. Our difference is that in most of our strategies we also hedge nearly every position we take.”

The fund’s goal is to purchase or make significant investments in oil and gas exploration firms for their reserve positions while supporting their production and exploration efforts with direct investment in their fields and then hedge position value, reserves and future production. The fund expects to invest based on fundamental valuation of each position they take.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

Tags: fund-investor, hedge fund, oil and gas exploration, private investment, public equities