Louis Dreyfus hedge fund Edesia to close S'pore office: sources

Geneva

THE hedge fund controlled by commodities giant Louis Dreyfus Holding BV will close its Singapore office to focus on its European trading operations, according to three people with knowledge of the matter.

The closure will eliminate four positions at Edesia Asset Management BV, about 10 per cent of the hedge fund's staff, two of the people said, asking not to be identified because the decision hasn't been made public. Edesia currently has close to US$1.9 billion in assets, down from a peak of about US$2.4 billion in 2012.