Galena Asset Management Ltd („Galena‟) has restructured the Galena Energy Fund as of January 2011. The Geneva-based Energy Fund was seeded by Trafigura group, the parent company, in April 2009 with 50M$. The group committed another 50M$ early in January 2010.

With a view to providing a more diversified investment approach changes have been made in the Energy Team. Claude Lixi remains the lead PM of Galena Energy Fund. He is being joined by Mark Heath as a senior investment manager, Frederic Codet has moved on to head Trafigura‟s Structured Derivatives Team.

Mark has over 10 years experience in commodity markets, having traded oil and its product derivatives, natural gas and UK power. He joined Trafigura in 2008 as a senior trader on the oil derivatives desk, where he has been responsible for managing Trafigura‟s refinery margin exposure through OTC markets. He was also responsible for origination of many long term structures that the company looks at in the downstream sector.

Prior to joining Trafigura Mark traded physical Jet fuel at Hetco, and started his career trading natural gas as Enron in the UK. He holds a Bachelor of Science degree from Kings College London.

Galena Energy Fund trades exchange-traded oil and energy futures, options and swaps. The Fund does not trade physical energy products. It leverages on the market intelligence sourced from the Trafigura Group (Trafigura is the world‟s third largest independent oil trader trading over 2.5M barrels daily) to provide an active exposure to energy markets via a combination of relative value, directional and volatility specific trades.

The Fund‟s main services providers are NewEdge as prime broker and BNY Mellon as Administrator.
Commenting on the recent changes, Jeremy Weir, CEO of the asset management business said: "this restructuring enables the Galena Energy Fund to further diversify its returns and differentiate itself from other energy funds."