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(Bloomberg) — Hedge fund Roscommon Analytics is moving to close its gas trading business following losses in the energy market, according to people familiar with the matter.
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The fund lost money in the US power market last year, according to the people, who were not authorized to speak publicly because the information is confidential. A number of both US gas and power traders were let go.
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“Roscommon is managing through a challenging period but remains well capitalized and operating in an orderly manner. We have the support of our investors and are focused on executing our strategy with discipline. We do not comment on specific trading positions or performance,” said founder and CEO Kevin Kelley in a statement to Bloomberg.
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Roscommon will retain a subset of power traders known as financial transmission rights (FTR) traders.
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Hedge funds have expanded their presence in commodity trading enormously since the pandemic in search of new sources of returns, but the environment is turbulent. US President Donald Trump’s tariffs on key trading partners have whipsawed commodities from energy to metals, spurring a jump in demand for cross-commodities and volatility portfolio managers and traders.
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The Houston-based firm had regulatory assets under management of $1.36 billion at the end of 2024 and employed about 100 people, according to its most recent filing with US regulators. The firm’s filing at the time said it “focuses predominantly on the energy commodity markets” in regions including the US and Europe.
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Roscommon had recently built out its US natural gas trading desk with the hiring of former Hartree gas trader Michael Ciano in 2025 and two former PetroChina International America traders in January 2024.
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