Launches & Closures Hedge Funds Performance

Is the love affair with Dwight over?


Focused on the big picture, Dwight Anderson built Ospraie into an institution but seems to have lost control of his flagship

By Michelle Celarier

Ospraie Management founder Dwight Anderson is the type of old-time, star-caliber manager investors fall in love with. "He looks at you intently; it's almost a magnetism," explains one investor. "We got charmed."

That's what makes the turn of events at Ospraie - which is shutting down its flagship following a near 40% loss through August - so shattering. Many funds have closed their doors this year, in what is turning into a rout for hedge funds. But