Pickens' Hedge Fund Troubles Impacting OSU

NewsOn6.com

STILLWATER, OK -- The Wall Street Journal is reporting one of a T. Boone Pickens' energy related hedge funds is down and could impact Oklahoma State University.

Pickens' funds have lost around $1 billion this year, a figure that includes $270 million of personal losses, the Journal reported.

"It's my toughest run in 10 years," Pickens told the Wall Street Journal. "We missed the turn in the market.  There's nothing fun about it."

The losses could impact building plans at OSU in Stillwater.

A $165 million donation in 2006 by Pickens is being used to fund several building projects on the Stillwater campus.  The projects were financed by borrowing money against the hedge fund which has now lost money.

OSU officials have indicated at least one project, an indoor practice facility, has been delayed.

Related story:

7/28/2007  Oklahoma State To Invest More With Pickens