A former U.S. special-operations soldier turned math wonk is shaking up the world of commodity trading.
Bloomberg News reports that since leading a management takeover at Castleton Commodities International almost three years ago, CEO William Reed has been on a buying spree backed by hedge funds and billionaires.
Two months after acquiring Morgan Stanley’s oil business, Reed has made Castleton among the world’s biggest independent energy traders.
What distinguishes Castleton are the deep pockets of shareholders such as Paul Tudor Jones and Highbridge Capital Management founder Glenn Dubin. They gave Reed the funding he needed to make the Connecticut company global, with profits close to those of some of the biggest independent traders including Gunvor Group and Mercuria Energy Group.
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