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Paul Touradji, a Tiger Management alum and Julian Robertson protege, has ambitious plans for his hedge fund, Touradji Capital Management, in 2006. It was launched last year after wild accusations between Touradji and his then partner, Robert Ellis, surrounding the now-dissolved Catequil Asset Management ended with the two of them in court. Sources say that litigation has since been settled, though details couldn't be learned.
Now working from a new slate, Touradji has two new funds-a hedge fund focused solely on energy equities, and a private equity fund that will invest in hard oil and gas assets-in addition to his existing global commodities and energy equities hedge fund, called the Global Resources Fund (GRF).
The new fund that will focus exclusively on energy equities is called Touradji Deep Rock Partners. Launched on Feb. 1, it has been capped at $250 million. Deep Rock is a subset of GRF, which has $1.5 billion under management.
Registered in the Cayman Islands, GRF returned 22% in 2005, its first year. It is focused...