Saturday, 27 December 2014
Last updated 3 days ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.