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.
Mr. Oden holds a Ph.D. in mathematics and in the early 1990s was a reliability engineer at the Space and Technology Division of TRW. He agrees that it isn’t necessary to be a rocket scientist to manage a hedge fund, but he doesn’t think it hurts.
He made the transition from private industry to academia and then into finance because “my wife and I both decided we wanted to look at something a little bit different,” he said. From April 1997 to April 2000, he was vice president at Goldman Sachs & Co., where he spent most of his tenure on the energy desk, marketing and doing product development for energy derivatives.
Mr.. Oden has been registered as an associated person and principal of Oden Capital, with the Commodity Futures Trading Commission, since Jan. 15.