ROSELAND, N.J. (HedgeWorld.com)–Oden Capital LLC, an asset management and commodities trading firm, is raising capital for a new currency and commodities hedge fund in preparation for a launch in late October.
The new vehicle, the Oden Global Strategies Fund LP, will apply statistical analysis to look for spread and historical pricing discrepancies in the commodities market.
This isn’t a traditional commodities fund. “It’s more of a stat arb [fund] in commodities land,” said Kevin Oden, president of Oden Capital.
He hopes to seed the fund with between US$1 million and US$2 million, and is concentrating his marketing efforts on high-net-worth investors, although he will also look to institutions, including foundations and endowments. Rand Financial Services is the prime broker.