Hedge Funds

Ospraie sells stake to Lehman and plots expansion


Dwight Anderson's Ospraie Management told its investors this week that it has sold a 20%, non-controlling stake to Lehman Brothers in a move to expand its hedge fund platform.

In coming months, Ospraie plans to use the financing from Lehman to launch two funds that will offer twists on the basic industries and commodities investments that it specializes in.

One is a multi-portfolio fund that will pool the expertise of other specialists in commodities and basic industries whom Ospraie considers to be the best investors in their sector. The managers - some previously unavailable to investors - will