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Former Millennium Trader Dodson to Start New Oil Hedge Fund

  • Dodson is targeting $500 million in assets for Philipp Oil
  • Launch bucks recent trend of closures among commodity funds
Oil Operations on the Outskirts of Baku
Photographer: Taylor Weidman/Bloomberg

Andrew Dodson, a former partner at Izzy Englander’s Millennium Management, has set up a new fund to trade oil, bucking the trend of closures among commodities hedge funds in recent years.

Dodson, who started his career at Trafigura Group and also worked at Arcadia Petroleum Ltd. and Banco BTG Pactual SA before joining Millennium, last month incorporated Philipp Advisors LLP and registered the name Philipp Oil for the new fund, according to a Companies House filing and the FCA register. Dodson is a descendant of Oscar Philipp, one of the legendary brothers whose trading house Philipp Brothers, or Phibro, dominated global commodities for decades.