Ospraie Bounces Back, Attracts $500 Million

Mar 26 2010 | 1:30pm ET

Commodity hedge fund firm Ospraie Management has picked up where it left off 18 months ago, when it shuttered its flagship after losing 39%.

The New York-based firm unveiled two new hedge funds over the summer, quickly collecting $100 million despite their predecessor’s troubles. Their faith in Ospraie founder Dwight Anderson has been rewarded: The new Ospraie Commodity Fund returned 12.4% in its first six months, and is up 1.9% this year, Reuters reports. Its companion Equity Fund returned 14.6% last year and is up 0.8% in January and February.

And Anderson has been amply rewarded himself. Investors have poured another $500 million into the funds. While a far cry from Ospraie’s peak of $9 billion, much of the money for the new funds has come from former investors, according to Reuters.

The new Ospraie funds are outperforming their peers in the early going. The HFRX Commodity Index lost 3% last year and is down 2.2% this year.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…