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Investing.com -- Citadel, the hedge fund managed by Ken Griffin, has made a significant investment in the physical US natural gas market, marking one of its largest deals in this sector. The firm has agreed to purchase assets from Paloma Natural Gas LLC, a privately held company, in a transaction valued at roughly $1 billion, according to Bloomberg, citing sources close to the situation.
This acquisition will provide Citadel with access to land and producing assets, although the hedge fund will not directly operate these assets. Citadel is already recognized as one of the most active traders of physical gas in the US, but this venture into the drilling and production side of the industry is a relatively new move for a hedge fund.
The deal with Paloma Natural Gas LLC signifies an expansion of Citadel’s presence in the natural gas market, which has been one of the firm’s most profitable business areas.
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