NEW YORK--(BUSINESS WIRE)--Nanes Balkany Partners I LP, an activist hedge fund which invests primarily in oil and gas exploration companies, today announced that Julien Balkany, who co-founded Nanes Balkany Partners I LP (the “Fund”) with Daryl Nanes in January 2008, has separated from the Fund and Mr. Nanes has assumed all responsibilities for the Fund’s management and investments.
Julien Balkany, a French citizen, co-launched Nanes Balkany Partners in January 2008 and since inception the fund has had strong performance even through the unprecedented market upheaval in 2008. In that year, Nanes Balkany returned about 23 percent when hedge funds on average lost a record 19 percent. Nanes Balkany Partners rose about 48% percent net of all fees in 2009 and was up approximately 43% net of fees as of November 30, 2010.
Julien Balkany stated, “I am very proud of our accomplishments over the last three years and the experience has been one of the most rewarding of my career. As a French national, I have always kept some focus on Europe for the next stage of my career and I feel that the success of Nanes Balkany Partners allows me to now move on to take on new opportunities and challenges.”
Julien Balkany was ranked on the 2008 annual list of the “30 Under 30” world’s top traders and hedge fund managers published by the U.S. magazine Trader Monthly and in June 2010 received an award from Institutional Investor Magazine as part of the 2010 Hedge Fund Rising Stars.
Daryl Nanes, Managing Member and Co-founder of Nanes Balkany Partners, stated, “Julien has been a terrific partner and the energy, drive and market knowledge that he brought to our investment process is reflected in our strong performance. Together, we have built a very specialized fund with a well positioned platform for our team to grow. We wish Julien all the best in his future endeavors.”