Millennium Senior Fuels Trader Leaves Amid Energy Team Changes
- Three other energy traders are also departing hedge fund
- Englander’s fund has made major push into commodities markets
The firm earned about $600 million from commodities investments in 2023, and more than half of those profits came from natural gas trading.
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Millennium Management LLC’s senior fuels trader and three other traders are departing while a senior natural gas trader from Castleton Commodities is set to join the hedge fund as its commodities business evolves, people familiar with the matter said.
Gary Pedersen, who led a team of refined-products traders, and fuels trader James Hutchinson are leaving the firm, the people said, asking not to be named because the information is private. Meanwhile, Ian Virga will join Millennium to lead a team of natural gas traders that will manage about $1.5 billion in assets, the people said.