FINalternatives- Two founders of Natsource Asset Division Management have left the firm and formed their own hedge fund trading carbon emissions. David Kandolha and Harvey Abrahams this month launched Akeida Capital Management, and is fundraising for their maiden carbon hedge fund, Akeida Environmental Master Fund.
Natsource started in 1994 as an institutional energy broker and later expanded into the electricity and emissions sector. Kandolha and Abrahams say they left the firm to focus on the investment management business.
Akeida’s carbon hedge fund will employ a two-prong strategy. First, it employs an actively-managed trading account with exposure to a variety of different environmental commodities. In the carbon space, the fund will trade European Union allowances, the two Kyoto credits, which are certified emission reductions, emission reduction units, verified emission reductions, as well as trading on the U.S. exchanges such as Chicago Climate Exchange and the New York Mercantile Exchnage’s Green Exchange, according to Kandolha.
