The KKR-backed energy-focused hedge fund, BlackGold Capital Management's flagship strategy, the BlackGold Opportunity Fund lost -2.2% in the month of November, according to the hedge fund's monthly update, a copy of which has been reviewed by ValueWalk.
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The opportunistic energy credit strategy is up 1% year-to-date, and 186% since inception (January 2009).
According to the market commentary section of the firm's November update, underperformance in the month was "driven by seemingly high-quality credits."
EnLink Midstream slumps
The biggest detractor was EnLink Midstream, which, according to the update, came under severe selling pressure and dropped 18 points "on a single trade with...
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