Oppenheimer family backs Senqu hedge fund
Oppenheimer’s Stockdale Street sees a lot of capital coming into hedge funds because of regulatory changes
The family of South African diamond-mining billionaire Nicky Oppenheimer is backing a new hedge fund to be run by former Capricorn Capital Group money managers Andrew Crawford and Stephen Carew. Stockdale Street, which managed the family’s private-equity interests, was investing R100m in the venture, known as Senqu Capital, Crawford and Carew said in an interview in Johannesburg, where it is based. The Oppenheimer family founded Anglo American in 1917 and transformed De Beers into the world’s biggest diamond producer. "We’re backing some really good talent here in Stephen and Andrew and we like the hedge fund model because it can play through the economic cycles in a positive way for investors," Paul Salomon, a partner at Stockdale, said. "We expect there to be a lot of capital coming into hedge funds because of the regulatory changes." The introduction of new rules a year ago for the industry has opened hedge funds up to more investors in a country that has R2-trillion of investmen...
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