KKR Backed Hedge Fund Says Energy Stocks Are “Broken” As Credit “Blows Up”

May was a more difficult month for hedge funds, as evidenced by the growing number of monthly return sheets we have received. The energy-focused owned partially by KKR, BlackGold Capital Managementm has had a strong year overall, although May has so far been the only month to take a significant bite out of its gains.

Q1 hedge fund letters, conference, scoops etc

The BlackGold Opportunity Fund is up 9.1% for the year so far, although it was down 2.6% in May. The BlackGold MLP & Infrastructure Credit Fund is up 7% for 2019 after a 4% decline in May, while the BlackGold Insurance Dedicated Fund is up 8.9% for the year after a 2.8% decline in May.