Scoop: Andurand ups commitment on commodities surge
Andurand Capital Management is riding the commodities wave with $10 million in capital commitments to its Commodities Discretionary Fund LP, Axios has learned.
Why it matters: Investors are reupping their commitments in the commodities markets as other markets brace for contraction.
Context: Back in 2021, Andurand predicted a bull market for commodities as the world inched closer to decarbonization.
- Then came the conflict in Ukraine and resulting restrictions around Russian energy exports, pushing commodities prices through the proverbial roof.
By the numbers: The Andurand Commodities Discretionary Fund is one of 12 managed funds under Andurand.
- Together, the firm's Commodities Discretionary funds account for roughly $1 billion of the firm's $2 billion AUM.
- The funds were on track to return at or above 162% in the first half of 2022, Bloomberg previously reported.
- The roughly $2.3 million in additional commitments outlined in an SEC filing Friday did not correspond with an increase in number of investors, records show.