Louis Dreyfus is selling off its controlling stake in Louis Dreyfus Highbridge Energy L.L.C. to multiple investors, including the founder of predecessor firm Highbridge Capital as well as a trust run by Greenwich hedge fund magnate Paul Tudor Jones.
The companies did not disclose financial terms.
LDH Energy buys and sells a wide range of energy assets and commodities, including power plants, pipelines, and terminals, also consulting on financial transactions in the industry. The company employs 300 people at its Stamford headquarters and offices in Houston, Canada, China, Singapore, Switzerland and Uruguay.
LDH Energy will be renamed Castleton Commodities International L.L.C., with ownership shared by DF Energy Acquisition L.L.C., itself owned by Highbridge Capital Management founder Glenn Dubin; and entities controlled by Tudor Investment Corp. founder Paul Tudor Jones, the founder of New York City-based TRB Advisors, and the CEO of New York City-based Continental Grain Co.
Dubin founded Highbridge in 1992 later joining with Louis Dreyfus to create LDH Energy as a joint venture.
“Glenn and the rest of the investor group members represent some of the finest minds in global finance and industry,” said William Reed II, CEO of LDH Energy, in a prepared statement. “The prospects for growth at LDH Energy are tremendous as it continues to expand its merchant footprint and grow its asset portfolio.”
Editor’s note: corrected from an earlier version that inaccurately described the formation of LDH Energy.
