The buying and selling of mineral rights, an about $2. 1 billion-a-year business in the United States, took off in the shale patch around 2016 as drilling activity jumped, said Enverus M&A analyst Andrew Dittmar. But the business slumped last year as deals dried up with oil demand. Bentley had borrowed money using fund assets in a last-ditch effort to generate enough cash to pay investor distributions. Instead, he used some of the cash to finance Bellatorum's daily operations and cover distributions to early fund investors, he told Reuters. "I have made serious mistakes in an effort to keep the operation going, " he told investors in the email dated April 9 and seen by Reuters. The company's two largest funds have almost no assets left, he said, after he borrowed $6. 6 million against the assets and the lender foreclosed earlier this year. 'TIME WILL TELL' Jeff Voelkel, an investor in Bellatorum's third and smallest fund who has reviewed its records, said less than half the $2. 6 million that 40 investors put into the fund was used to buy assets, with the rest apparently consumed by expenses.
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Founded in 1987, Energy Investors Funds was the first U. S. private equity fund manager to focus on the independent power industry. Since that time, EIF has raised over $4. 0 billion in equity capital. The Firm has garnered a reputation as a source of intelligent and innovative capital by utilizing a consistent investment strategy across all of its funds. EIF's funds have made over 100 diversified investments, which have an underlying asset value greater than $15 billion. EIF has gained comprehensive knowledge of local, state, and regional markets nationwide through ownership of power assets in 33 states. EIF is 100% management-owned and has delivered a 23-year track record of superior performance. EIF's proven investment strategy is focused on creating diversified portfolios of power assets that provide stable equity returns based on current cash flow and capital appreciation with upside potential and downside protection. With offices in Boston, New York, and San Francisco, EIF has built a fully-integrated team of investment, engineering, financial, legal, and marketing professionals to maintain its position as a leading independent investor in the U. power sector.
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This mutual fund has an expense ratio of 0. 93%. There are no investment minimums. Dividends are paid in April and December. Guinness Atkinson Global Energy Fund The Guinness Atkinson Global Energy Fund (GAGEX) seeks long-term capital appreciation by investing in companies engaged in the exploration, production, and distribution of oil, gas, and other energy sources. Fund managers look to macro data such as economic indicators and commodity prices to determine asset allocation. It then screens for companies based on valuation, quality, sentiment, and momentum. The fund has the MSCI World Energy Index as its benchmark. As of end-February 2021, the Guinness Atkinson Global Energy Fund held 35 positions representing $10. 4 million in assets. The Oil & Gas sector accounted for 95. 5% of the fund's holdings. The U. and Canada accounted for 33. 7% and 15. 3% of assets, respectively. This fund has a net expense ratio of 1. 45%. The minimum investment is $1, 000 for Individual Retirement Accounts and $5, 000 for other accounts.
Energy Investors Funds (EIF) was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry. It is 100% management-owned. Since that time, EIF has mobilized over $3. 4 billion in capital and currently manages four private equity funds: Project Finance Fund III, United States Power Fund, United States Power Fund II, and United States Power Fund III. The funds have made over 100 diversified investments, with a combined underlying asset value exceeding $7 billion spanning a wide range of investment strategies, technologies, and fuels. [1] On June 28, 2004 Energy Investors Funds Group announced that its U. S. Power Fund acquired Black River Energy and its assets including Black River Generating Facility in New York and Hawaii-based Hamakua Energy Partners. [2] In 2007 EIF, via its United States Power Fund III LP unit, bought an 80% stake in 14 power plants from Cogentrix Energy Inc., a unit of Goldman Sachs. The assets are held in a newly created holding company, EIF Calypso, which was funded by $850 million in loans from Calyon.