Commodity Hedge Fund Conductor Capital Closes Down
(Bloomberg) -- Conductor Capital Ltd., a specialist commodity hedge fund started by former EDF Trading executives, is closing down.
Conductor’s executives made the decision “that the company be wound up” in December, according to documents filed with UK registry Companies House. A spokesperson for the firm declined to comment on Friday.
The firm is shuttering after a painful year for some commodity-focused funds as unpredictable US trade policies and war in the Middle East overtook fundamentals, making energy markets hard to trade. Industry veteran Pierre Andurand’s main hedge fund ended 2025 down 40%.
Founded in 2022 by EDF’s Marcello Romano, Conductor was among a clutch of independent hedge funds set up to trade gas, power, metals and other commodities just as Russia’s invasion of Ukraine sent volatility soaring. The wild price swings drew investors back to the sector after a decade of poor returns.
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