After Rough Patch, Trader Engelhart Bets Big on Power and Gas
- London-based commodity trader wants to benefit from renewables
- Shift won’t mean return to other physical markets, CEO says
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The last time Engelhart Commodities Trading Partners traded physical commodities at scale it lost almost $500 million over three years. Now its boss says things are different as the firm bets big on buying and supplying natural gas and power.
London-based Engelhart agreed last month to buy Trailstone Group — a deal that will see the spinoff from Brazilian bank BTG Pactual roughly double in size. Its focus will pivot from derivatives to becoming a significant trader of physical natural gas and electricity in markets from Japan to the US.