Ex-Goldfinch portfolio manager launches new natgas fund -report

NEW YORK Tue May 13, 2014 1:06pm EDT

NEW YORK May 13 (Reuters) - A former portfolio manager at Houston-based energy hedge fund Goldfinch Capital is launching a natural gas-focused fund that is expected to start trading in the summer, energy news site Sparkspread said on Tuesday.

Mirarc Capital Management, with Goldfinch's Rick Thielke at the helm, will get "substantial" backing from an institutional investor, Sparkspread said, quoting an industry source. It did not say where the new fund will be based.

Thielke will be joined by Brandon Cochran, who will be Mirarc's co-founder and portfolio manager, and Divya Brown, who will be chief operating officer, Sparkspread said.

Cochran was previously managing partner for natural gas derivatives at Cornerstone Global Commodities, a New York-based broker for energy derivatives, the website said. Prior to that, he was a trader for seven years at Houston-based high-frequency trading firm Quantlab Financial.

Brown was most recently associate general counsel at oilfield services company Aker Solutions in Houston, according to Sparkspread.

Thielke joined Goldfinch in January last year from SandRidge Capital, where he was portfolio manager and head of analytics, the website said. Houston-based SandRidge shut down at the beginning of 2013.

Prior to SandRidge, he held commodity trading roles with a unit of Louis Dreyfus Commodities in Brazil and with Merrill Lynch Commodities, Sparkspread said. (Reporting By Barani Krishnan; Editing by Meredith Mazzilli)

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