Castleton Commodities International

Last updated
Castleton Commodities International LLC
FormerlyLouis Dreyfus Highbridge Energy LLC (LDH Energy)
Type Private
Industry Commodity
Founded1997;26 years ago (1997)
Headquarters,
Area served
Global
Products Energy / Raw materials / Merchant
Owner Glenn Dubin
Paul Tudor Jones
Timothy Barakett
Number of employees
650 [2]  (2015 [2] )
Website www.cci.com

Castleton Commodities International, LLC (CCI) is a privately held global merchant firm that is involved in commodity trading and is active in a wide spectrum of global energy markets. [1] Under the name Louis Dreyfus Energy, the company was formed in 1997 by the Louis Dreyfus Company as a subsidiary to trade energy. [1] By 2006 Louis Dreyfus Energy was ranked as one of the 10 largest natural gas marketers within the United States. [3] The company has worldwide interests covering "the physical delivery of petroleum and natural gas as well as financial interests in energy". [3] Headquartered in Stamford, Connecticut, CCI has offices in Calgary, Canada; Houston, Texas; Geneva, Switzerland; London, United Kingdom; and Singapore. [4]

In 2006 Highbridge Capital Management, a New York based hedge fund, invested as a joint venture in Louis Dreyfus Group to increase their access to and control of energy delivery within trading markets. [3] The joint venture was called Louis Dreyfus Highbridge Energy LLC (LDH Energy). [3]

In October 2012, it was announced that Glenn Dubin, Paul Tudor Jones and Timothy Barakett were among a group of investors buying the merchant energy operation Louis Dreyfus Highbridge Energy ("LDH Energy") from Louis Dreyfus and Highbridge. [5] The reason for Louis Dreyfus to sell LDH Energy was it sought to raise capital to expand its agriculture trading business. [5] The new company was named Castleton Commodities International, LLC where Glenn Dubin as of 2012 is the lead shareholder. [6]

In 2015, Castleton Commodities International acquired Morgan Stanley’s Global Oil Merchanting Business for an undisclosed sum. [7]

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References

  1. 1 2 3 Mason, Josephine; Craft, Diane (11 May 2015). "TIMELINE-Castleton: From Louis Dreyfus energy arm to commodities powerhouse". No. Fund News. New York, N.Y., United States: Reuters. Thomson Reuters. Retrieved 1 September 2019.
  2. 1 2 Sanderson, Henry; Meyer, Gregory (20 March 2015). "Castleton Hires Sellars for Metals Push" . No. Industrial Metals. London: Financial Times. Nikkei. Retrieved 30 August 2019.
  3. 1 2 3 4 Sorkinjan, Andrew (8 January 2007). "Highbridge Hedge Fund Buys Stake in Louis Dreyfus Energy Business". New York Times. No. Business Day. New York, N.Y., United States. The New York Times Company. p. C2. Retrieved 29 August 2019.
  4. "Global Presence | CCI". www.cci.com. Retrieved 2019-10-30.
  5. 1 2 "Louis Dreyfus and JPMorgan to Sell Energy Trading Venture". New York Times. No. DealBook. The New York Times Company. 4 October 2012. Retrieved 29 August 2019.
  6. McCrum, Dan; Blas, Javier (3 October 2012). "Louis Dreyfus to sell energy trader" . New York, N.Y., United States: Financial Times. Nikkei. Retrieved 29 August 2019.
  7. "Morgan Stanley Completes Sale of Global Oil Merchanting Business to Castleton Commodities International LLC". Morgan Stanley. Retrieved 2019-10-30.

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