New York Post- Hedge fund BlueGold Capital might have struck black gold, with oil bets driving returns up a whopping 160 percent through the end of June.

BlueGold just opened for business in February, but its eye-popping returns have already attracted attention – and money – from investors. Indeed, assets have grown by more than six times since inception to $925 million, according to a BlueGold official and the company’s most recent letter to investors.

"The hedge fund market has not had a lot of oil traders with physical oil experience. I think that gives us an edge," said Dennis Crema, who helped launch the London-based fund with Pierre Andurand. Both men are former traders from Vitol, a Swiss energy trading firm.

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