Ex-Amaranth Hunter gets job at buyout firm

Hunter is expected to invest $10m in the new fund, which will trade natural gas, crude oil and electricity options, according to SparkSpread, the online energy news service, which cited a source familiar with the situation.

He will provide advice through PRCV Consulting, a Canadian company that is owned and controlled by Hunter and which has been appointed as a consultant to Helmsmen Advisors (Bermuda), the new fund’s adviser, according to the source, who claimed to have seen a supplement to a private placement memorandum distributed by Peak Ridge.

The Peak Ridge Commodities Volatility Fund Segregated Portfolio is the first commodities fund to be launched by Peak Ridge, which focuses on venture capital and real estate investments. It is trying to raise money this month.

Peak Ridge and Hunter were unavailable for comment.

The former Amaranth trader, who has been hoping to raise a hedge fund at Solengo, the firm he set up this year, is defending himself against legal complaints leveled by the US Federal Energy Regulatory Commission and Commodity Futures Trading Commission alleging market manipulation. The allegations are unconnected to Amaranth's implosion last September, when the hedge fund lost 70% of its value in less than a month.