|Energy trader Erik Verhaar, formerly of hedge fund manager Ospraie Management LLC, is launching an energy hedge fund under the name Falckon Capital BV in his native Netherlands. Falckon Capital will invest in European commodities. |
According to Bloomberg, Mr. Verhaar has much experience in the energy industry, trading for such firms as Cargill, Goldman Sachs, Nuon NV, and Deutsche Bank before joining Ospraie. While at Ospraie, he achieved an impressive 15% return net of fees. Falckon’s team also includes George Roskott, another Ospraie veteran.
Mr. Verhaar’s firm adds to the growing list of hedge funds either founded by or employing Ospraie veterans. Verulam LLC was founded earlier this year by ex-Ospraie portfolio manager Andrew Suckling. Verulam will invest in commodities and commodity related derivatives. Union Avenue Advisors LLC, an emerging markets fund founded by Thomas Grossman, hired Ospraie veteran Carl Schapiro as its Chief Investment Officer.
Despite heavy losses in 2008 that forced it to close down its flagship fund, Ospraie Management recently launched two commodity-focused hedge funds, the Ospraie Equity Fund and Ospraie Commodity Fund.