Black River Commodity Vets Launching New Hedge Fund

Aug 31 2016 | 10:01pm ET

Two veterans from Cargill’s alternative asset manager Black River Asset Management are forming a new hedge fund that will focus on commodities.

Mark Schulze and Jason Vogt have launched Twin Harvest Capital Partners, according to a Reuters article citing unidentified individuals, and plan to begin trading in 2017 with around $100 million. The new fund, which filed regulatory paperwork in November 2015, will focus on futures and options related to agricultural commodities like corn, soybeans, and wheat. 

Both Schulze and Vogt spent most of their careers at Cargill and worked most recently for Black River, the food giant’s investment subsidiary, as portfolio managers. 

Cargill shuttered Black River earlier this year after closing some commodity hedge funds, bringing others in house and spinning off three strategy-specific units into separate businesses. Argentem Creek Partners was Black River’s emerging markets credit business, Proterra Investment Partners was its natural resources PE business, and Garda Capital Partners, which was Black River’s flagship $2 billion relative value fixed-income business. The final spinout closed in February 2016. 

Like Black River and Cargill, the new fund will reportedly be based in Minneapolis, Minnesota.

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