Skip to content
Subscriber Only

Andurand Hedge Fund Said to Gain 18% in November Shorting Oil

Pierre Andurand, who foresaw the oil market’s peak in 2008, made an 18 percent gain for his hedge fund in November by predicting OPEC’s refusal to cut crude production, according to two people with knowledge of the fund.

Andurand Capital Management LLP, which manages about $350 million, has returned 20 percent for the year, according to the people, who asked not to be identified because the information is private. About 70 percent of November’s gain came from shorting crude in the days before the Organization of Petroleum Exporting Countries decided to keep its production target unchanged, they said.