Former Xstrata CEO Davis Said To Back New Industrial Commodities Fund

Jul 5 2017 | 8:01pm ET

Former Xstrata CEO Mick Davis is reportedly backing a new hedge fund that will invest in industrial commodities. 

Davis ran Xstrata until 2013, when he stepped down after more than ten years at the helm of the global mining company. In addition to leading the merger of Xstrata and Glencore, he also raised almost $6 billion for the X2 Resources private equity fund.

The new fund, named Commodity Asset Management, was founded in 2016 by former AQR Capital Management executive Nathaniel Polachek and veteran physical commodities trader Jonathan Tulkoff, according to a Bloomberg article citing a person familiar with the matter. 

The fund is based in New York and trades commodities such as fracking sand, tin and silicone, as well as the stocks of industrial commodity companies, Bloomberg added. Additional information about Davis’s involvement was not immediately available.

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