T. Boone Pickens liquidates energy equity hedge fund

Dallas Morning News – Hedge fund operator and oil prognosticator T. Boone Pickens liquidated one of his hedge funds last month as the stock markets plunged.

The Dallas billionaire converted his energy equity fund to cash and offered investors the opportunity to withdraw their money early.

The fund started with $2 billion and could be down to around $400 million to $500 million after withdrawals, according to someone familiar with the fund.

The fund was down 60 percent this year after heady gains in previous years.

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