NIR Group Offers Commodities Hedge Fund
December 19, 2008
New York-based NIR Group has opened up its Cortan Commodity Partners fund to outside capital one year after debuting it to friends and family of the firm. The Cortan fund employs an inter- and intra-commodity spreads and commodity futures strategy.
“We see a commodities market ripe for smart, strategic investment,” said Corey Ribotsky, founder and managing member of the NIR Group. “With the so-called commodities bubble deflating, there are significant dislocations in price and valuations that we believe we can capitalize on for our investors’ benefit.”
He adds, “Our market-neutral approach mitigates some of the directional risk that has really hurt so many investors unprepared for the velocity of the market volatility we are experiencing in the current environment.”
The fund is managed by Howard Tanney, a former member of the NYMEX board of directors.
NIR Group currently manages some $7 billion in direct equity investments, commodities, structured finance, and real estate assets.
