Bloomberg – The $1.1 billion Fortress Commodities Offshore Fund Ltd. had its best month ever in August by betting on price declines for oil and copper, beating bigger rivals Clive Capital LLP and BlueGold Capital Management LLP.
Fortress, the commodity hedge fund run by William Callanan, rose 6 percent last month and has now gained about 1.8 percent in 2011, according to two people with direct knowledge of the matter who declined to be identified because the data isn’t public. Chris Levett’s Clive Fund fell 0.2 percent last month and Pierre Andurand’s BlueGold Fund lost 12 percent, according to investors.
