Ospraie fund to quick after Aug hit Reuters

The closure of the fund, announced by the firm's founder Dwight Anderson in a packages to investors on Tuesday, could be deeper pathetic story for Lehman Brothers Holdings Inc, which took a 20 percent stake in the hedge fund administrator in 2005.

One professional said the closure of the fund, which at the clock of the letter's writing had missing 38.59 percent this year, may further acquire played a role in bringing down U.S. Tuesday, which fell after initially climbing another than 1 percent. Lehman shares were down else than 3 percent in after-hours trading.

This is honest adding to the campfire for commodity-related names," said Peter Holst, managing employer at Delta Global Advisors in Southern California. Still this forenoon when the marketplace opened, some of the names that Ospraie has positions in were getting hammered." Ospraie and Lehman declined to comment.

As of the commencement of August, the flagship fund, Ospraie Fund Ltd, had $2.8 billion invested, a human race confidential with the site said. Ospraie Control all the more manages $4 billion in other investment funds, including a certain opportunities fund, the source said. That fund bought the commodity trading and merchandising operations of ConAgra Foods Inc earlier this year.

In the letter, Ospraie Administration said it deliberate to distribute 40 percent of Ospraie Fund's assets to investors by Sept 30 and an further 40 percent by the year-end. The remaining 20 percent of the fund's assets are mostly illiquid and could receipts up to three senility to deed back to investors, it said. Continued..

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