9 Months Later, Ospraie’s Anderson Plans Return to the Commodities Game

May 16th, 2009
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Ospraie Management is looking to launch two new commodity-focused funds in July. In September of last year, the firm was forced to close its former flagship commodity-focused, the Ospraie Fund, after suffering losses of almost 40%. At its peak, the Ospraie Fund had managed approximately $3.5 billion in assets.

According to a letter obtained by Bloomberg News, Ospraie’s Founder, Dwight Anderson stated “After much reflection and with a number of lessons learned, we see a set of opportunities today that we believe could create significant value for investors in the coming years…That opportunity set is as compelling as I have seen in my 15 plus years of investing in the basic industry space.”

Investors in the new funds will pay fees of only 1% of assets and 10% of profits, compared with the typical hedge fees of 2% and 20%. Investors will also not be restricted by long term lock-up periods, and will be able to withdraw their assets on a quarterly basis.
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Ospraie Management
Related People: Dwight Anderson
Related Entities: Ospraie Fund*; Ospraie Real Return Fund; Ospraie Special Opportunities Fund; Ospraie Wingspan Fund; Tudor Investment Corporation* Lehman Brothers*
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

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