Will Snellings, portfolio manager and partner at Ospraie Management LLC, is spinning out of Dwight
Anderson's firm to start a global long-short equity hedge fund,
according to a presentation provided to Bloomberg News.
The Marianas Fund will trade opportunistically in
commodities, according to the presentation. The Marianas
strategy within Ospraie, run by Snellings since March 2012, had
$37 million in assets as of April and rose 8.1 percent in the
first four months of the year and 17 percent in the 10 months it
traded last year, the firm said in the presentation.
Anderson's Ospraie will provide operational support and
infrastructure to the Marianas Fund, according to the
presentation.
Jonathan Gasthalter, a spokesman for New York-based
Ospraie, declined to comment.
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