Pierre Andurand’s Hedge Fund Surged 31% Last Quarter on Oil Bets

Energy trader Pierre Andurand’s largest hedge fund soared in the first quarter on bullish oil bets as the conflict in the Middle East triggered a global supply shock.

The Andurand Commodities Discretionary Enhanced fund gained 31.1% in the period, according to a person familiar with the matter, who asked not to be identified discussing private information. The fund was down 4% in January, but then rose 4.6% in February and jumped 30.6% in March.