KKR, Highbridge Co-Founder Bid For JPMorgan Commodities Biz.

Dec 13 2013 | 12:08pm ET

Kohlberg Kravis Roberts and Highbridge Capital Management co-founder Glenn Dubin are making a run at JPMorgan Chase's physical commodities business.

The private-equity giant and Castleton Commodities International—the former Louis Dreyfus Highbridge Energy, acquired by Dubin and others, including Tudor Investment Corp. founder Paul Tudor Jones last year—are working together on a bid for the business, which JPMorgan has valued at $3.3 billion. KKR and Castleton are among about 20 initial bidders for the business, which includes eight divisions.

Whoever buys the commodities business will have to assume its liabilities. JPMorgan is said to want a final deal announced by the end of the year.

Dubin stepped down from Highbridge in July, although he remains the hedge fund's chairman. Highbridge is owned by JPMorgan Chase.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR