http://www.portlandtribune.com/us_world_news/story.php?story_id=N...

http://www.portlandtribune.com/us_world_news/story.php?story_id=N02450789

Ospraie fund to close after August hit
Sunday, February 1, 2009

By Paritosh Bansal
NEW YORK (Reuters) - Hedge fund manager Ospraie Management LLC will close its flagship fund after it plunged 27 percent in August on losses in energy, mining and natural resources equity holdings, in one of the biggest ever closures of a commodities-focused hedge fund……
One expert said the closure of the fund, which at the time of the letter's writing had lost 38.59 percent this year, may also have played a role in bringing down U.S. stocks on Tuesday, which fell after initially climbing more than 1 percent. Lehman shares were down more than 3 percent in after-hours trading.

“…….Ospraie also owns at least 5 percent in Australian resources and mining services companies Emeco Holdings Ltd and Mineral Deposits Ltd . Executives at Consolidated Rutile, Emeco and Mineral Deposits were not immediately available to comment. A UBS dealer in Australia said he could not comment on Ospraie's sell-off due to client confidentiality….”.


NJ