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

Dec 13 2013 | 1:08pm 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

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of