|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.