Dwight W. Anderson
|Dwight W. Anderson
|Founder, Principal and Portfolio Manager
|Ospraie Management LLC
|New York, NY
Anderson wrote a letter to investors informing them that by August of 2008, Ospraie's flagship fund had $2.8 billion invested, but it had a negative return of 26.72 percent after commodities and related equities fell into a six-week tailspin "characterized by some of the sharpest declines in these sectors in the past 20 years." The result was that the firm had to close its flagship fund.Anderson was himself one of the largest investors in the Ospraie Fund L.P.
As of September of 2008, Ospraie still managed $4 billion in other investment funds, including a special opportunities fund.
Anderson got his start in the business working under Julian Robertson at Tiger Management. In 1999, he moved to John Paul Tudor's hedge fund firm, where he started managing his own fund; in 2004 he spun out Ospraie Management as an independent firm. Lehman Brothers took a 20 percent stake in Ospraie Management in 2005. Anderson didn't have a losing year until 2006, when his flagship fund lost 19 percent in the first five months of the year. It took another hit in mid-2007 as the credit markets began to freeze up.
He received an MBA from The University of North Carolina at Chapel Hill's Kenan-Flagler Business School. He eventually received an MBA Alumni Merit Award from the school.