Anchor Point Capital launched a commodities hedge fund of funds with $18 million from institutional investors, including an unnamed large university endowment and a private foundation, according to an investor letter obtained by P&I Daily.
The Anchor Point Capital Commodity Fund invests in 11 commodity hedge funds, including both generalists and sector specialists, according to the letter. The fund’s benchmark is the DJ-UBS Commodity index, and the strategy is expected to generate excess alpha with less volatility.
Timothy Crowe, CEO and co-chief investment officer, declined to comment about the investor letter.
The new fund of funds is Anchor Point Capital’s third; the others are a global macro fund and a hedged equity fund.
Anchor Point Capital manages $121 million, of which 94% is from institutional investors, according to fund documents accompanying the investor letter.