Hedge fund Ocean Leonid Investments saw assets under management rise as it bet on oil, coal and Bitcoin at the right time, but fell sharply when its founder withdrew his money, according to people familiar with the matter. Ocean Leonid has delivered double-digit returns in the past two calendar years, reaching a high of about 30% in 2022. This coincided with a boom in the commodities industry.
Overseen by mysterious commodities trader Hossein Shamkhani, Ocean Leonid Investments was incorporated in the UK in June 2022 and also has offices in Geneva, Dubai and Singapore. It is known in financial circles as a proprietary firm focused on the energy sector.
Executives at the fund include Luigi Spagna and Mahdiyar Zare Mojtahedi, according to company documents in the UK and the UAE and people familiar with the matter. (Bloomberg)