The Equity Fund was launched following the spectacular success of the BP Capital Commodity Fund. The Equity Fund has generated a cumulative return of 120% since its inception in the Fall of 2001. Mr. Smith is the former Chief Financial Officer of Mesa and Pioneer Natural Resources, its corporate successor. Mr. Smith has held various financial management positions at Mesa and Pioneer dating back to 1989 when he joined Mesa’s finance team. Mr. Smith joined BP Capital in 2001 following his tenure at Pioneer to assist Mr. Pickens in the development of BP Capital’s investment management business. Mr. Smith received a Bachelor of Science degree in Electrical Engineering from the University of Texas at Austin and an MBA, with a concentration in Finance from Southern Methodist University.