Clive Capital Hedge Fund Rebounds On Falling Energy Prices Bet

Bloomberg – Chris Levett’s Clive Capital LLP gained as much as $230 million in May after betting energy and power prices would fall in a month when oil posted its biggest drop in two years, two people with knowledge of the fund said.

The $3.3 billion hedge fund rose about 7 percent in the first three weeks of the month, erasing its loss for the year, said the people, who declined to be identified because the company’s performance is confidential. Clive’s Class B shares had declined 4.8 percent in the first four months of 2012, according to a report to clients obtained by Bloomberg News.

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