Posted AT 6:28 AM EST on 03/09/08
Ospraie fund to close after 27 per cent slide
NEW YORK — Hedge fund manager Ospraie Management LLC will close its flagship fund after it plunged 27 per cent in August on losses in energy, mining and natural resources equity holdings, in one of the biggest ever closures of a commodities-focused hedge fund.
The closure of the fund, announced by the firm's founder Dwight Anderson in a letter to investors on Tuesday, could be more bad news for Lehman Brothers Holdings Inc.
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