Castleton Commodities International

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Castleton Commodities International
Castleton.jpg
Founded 1997
Headquarters Stamford, CT
Key People William Reed, CEO
Employees 900+
Products Commodities trading and investment firm
LinkedIn Profile
Website http://www.cci.com/
Releases Company News

Castleton Commodities International (CCI) is one of the largest independent commodity traders in the world. CCI's predominant focus is infrastructure assets; it owns power generation, coal blending and natural gas facilities, as well as storage and processing plants.

Initially, Castleton was primarily known for its gas and oil operations, but has since expanded its footprint to include coal and base metals.

History

CCI began as a subsidiary energy company of Louis Dreyfus Group in 1997. When Highbridge Capital Management, LLC made a minority investment in 2006, the subsidiary became known as known as Louis Dreyfus Highbridge Energy LLC (LDH Energy).[1]

The company was rebranded Castleton Commodities International in 2012 after being acquired by a private investment vehicle owned by Glenn Dubin, Continental Grain Company and family trusts set up by Paul Tudor Jones and Timothy Barakett.[2]

In May 2015, CCI announced it would acquire Morgan Stanley's Global Oil Merchanting business. Morgan Stanley's business handles approximately 2 million barrels of oil and oil products a day, providing a boost to CCI's global profile and execution abilities.[3] While the Morgan Stanley deal was the largest pulled off by Castleton in its history, it was far the only acquisition that expanded its business.

In November 2016, CCI announced the purchase of Carthage upstream and midstream assets in East Texas for more than $1 billion. [4]

Other key acquisitions and purchases:

  • 2008 - Cyrus River coal terminal in West Virginia (5 mil tons per year capacity)
  • 2011 - Slones coal terminal in Kentucky (3 mil tons per year capacity)
  • 2012 - Began trend of investing in New York and Texas power generation
  • 2013 - Natural gas assets in Paradox Basin from Patara Oil & Gas; natural gas field in Black Warrior Basin; power generation station in New York
  • 2014 - Natural gas assets along Gulf Coast; gas processing plant in New Mexico and related pipelines[5]

Products and Services

CCI provides services to better logistics, market commodities and improve infrastructure, as well as trading in energy and financial derivatives.

Key People

  • William Reed, CEO
  • Daniel Hines, EVP and CFO
  • Magesh Nair, EVP and COO
  • David Wallace, EVP and President of Merchant Trading
  • Craig Jarchow, President of CCI Upstream

References

  1. Our History. Castleton Commodities International.
  2. Louis Dreyfus Highbridge Energy Completes Change In Ownership. Castleton Commodities International.
  3. Castleton Commodities International LLC Announces Acquisition of Morgan Stanley’s Global Oil Merchanting Business. Castleton Commodities International.
  4. Castleton Commodities International LLC Announces Strategic Equity Investment by Tokyo Gas America Ltd.. PR Newswire.
  5. TIMELINE-Castleton: From Louis Dreyfus energy arm to commodities powerhouse. Reuters.