Louis Dreyfus Said to Close Commodity Fund to New Investors
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The $2 billion commodity hedge fund of Louis Dreyfus Group, the world’s largest rice and cotton trader, stopped accepting new money from investors, according to two people, after assets advanced 20-fold in about two years.
The Louis Dreyfus Commodities Alpha Fund, managed by Geneva-based Ian McIntosh, started with $100 million in November 2008 and focuses mainly on farm products including grains, oilseeds, sugar, coffee and cocoa. The fund returned 17.3 percent in 2010, according to the people who have direct knowledge of the matter. They declined to be identified because the information isn’t public.