by Amy Strahan (Bloomberg)
Bank of America Corp. oilfield services analyst James Wicklund, top-ranked in Institutional Investor magazine in 2002 and 2003, has become chief investment officer at Spinnerhawk Capital Management, a Dallas hedge fund.
Wicklund will help manage $25 million in energy-related equities and commodities, said John Alban, Spinnerhawk's chief operating officer. Spinnerhawk was founded in 2005 by Alban and Garrett Smith, who previously helped oversee Boone Pickens's BP Capital Energy Equity Fund.
``We've been a client of Bank of America and gotten to know Jim well, and we're thrilled to have him here,'' Alban said.
Spinnerhawk will likely invest more in small companies, Wicklund said in an interview. At Bank of America, he covered oilfield service and equipment companies including Schlumberger Ltd., Baker Hughes Inc. and Grant Prideco Inc. He was third- ranked among oil services analysts in 2006.
``It's been my experience there is greater volatility, and thereby opportunity, in smaller-cap stocks,'' he said. ``No offense to Schlumberger or Exxon Mobil, but I think the expertise and the background we bring is better for smaller caps, and there's much greater potential there.''
Last year's rally in oil prices, to a record $78.40 a barrel in July, spurred more hedge fund investment in energy- related stocks and oil and gas futures.
``There's no question the hedge funds are crowding into a lot of different spaces,'' Chansoo Joung, a manager at the buyout firm Warburg Pincus LLC, said at an energy conference earlier this week in Houston. Hedge fund and private equity investors have ``gotten more sophisticated with respect to energy,'' he said.
Bank of America Corp. oilfield services analyst James Wicklund, top-ranked in Institutional Investor magazine in 2002 and 2003, has become chief investment officer at Spinnerhawk Capital Management, a Dallas hedge fund.
Wicklund will help manage $25 million in energy-related equities and commodities, said John Alban, Spinnerhawk's chief operating officer. Spinnerhawk was founded in 2005 by Alban and Garrett Smith, who previously helped oversee Boone Pickens's BP Capital Energy Equity Fund.
``We've been a client of Bank of America and gotten to know Jim well, and we're thrilled to have him here,'' Alban said.
Spinnerhawk will likely invest more in small companies, Wicklund said in an interview. At Bank of America, he covered oilfield service and equipment companies including Schlumberger Ltd., Baker Hughes Inc. and Grant Prideco Inc. He was third- ranked among oil services analysts in 2006.
``It's been my experience there is greater volatility, and thereby opportunity, in smaller-cap stocks,'' he said. ``No offense to Schlumberger or Exxon Mobil, but I think the expertise and the background we bring is better for smaller caps, and there's much greater potential there.''
Last year's rally in oil prices, to a record $78.40 a barrel in July, spurred more hedge fund investment in energy- related stocks and oil and gas futures.
``There's no question the hedge funds are crowding into a lot of different spaces,'' Chansoo Joung, a manager at the buyout firm Warburg Pincus LLC, said at an energy conference earlier this week in Houston. Hedge fund and private equity investors have ``gotten more sophisticated with respect to energy,'' he said.
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