The family of South African diamond-mining billionaire Nicky Oppenheimer is backing a new hedge fund to be run by ex-Capricorn Capital Group Ltd. money managers Andrew Crawford and Stephen Carew.
Stockdale Street Ltd., which manages the family’s private-equity interests, is investing 100 million rand ($7 million) in the venture, known as Senqu Capital Pty Ltd., Crawford and Carew said in an interview in Johannesburg, where it is based. The Oppenheimer family founded Anglo American Plc 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 by phone in Johannesburg. “We expect there to be a lot of capital coming into hedge funds because of the regulatory changes.”