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Ex-Millennium Trader Raising New Hedge Fund
As commodities funds have shuttered, Andrew Dodson aims to open Philipp Oil with $500 million this summer.
Former Millennium Management portfolio manager Andrew Dodson is setting up an oil-trading hedge fund, seeking to capitalize on the减少大宗商品基金教派or.
“Very simply, the opportunity set is the richest it’s been in a number of years, and there are the fewest funds now than in the last 10 to 15 years,” Dodson told亚博赞助欧冠by phone Friday. “It’s the right time for a new entrant to buck the trend of fund closures.”
Two of the most famous figures in oil trading —T. Boone Pickensand Andrew Hall — closed their main funds over the past several months. Macro commodity firm Jamison Capital Partners followed in late January.
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Dodson began raising capital for London-based Philipp Oil approximately two months ago, he said, and is targeting $500 million in assets. He plans to begin trading this summer.
In late 2015, Dodson, now 38, joined the expanding commodities desk at Izzy Englander’sMillennium Managementas a portfolio manager. He departed after about a year-and-a-half.
Before working at Millennium, Dodson led non-U.S. oil trading at Brazilian bank BTG Pactual.
Dodson incorporated Philipp Advisors LLP early last month in the U.K.,records show— the company behind the Philipp Oil fund.