Looks like he found suckers who want to get lag commodity ETFs again http://www.bloomberg.com/apps/news?pid=20601087&sid=admIV4M7debo&refer=home
1) There are no "failures", only "comebacks". 2) It would have really been a bitch to earn back the ~40% drawdown he had before earning his incentive fee with the previous fund. 3) Now, he can start on "even ground".