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Carlyle Group, Louis Bacon to Sell Metals Merchant Traxys to Market Maker Optiver

Carlyle Group, Louis Bacon to Sell Metals Merchant Traxys to Market Maker Optiver

Carlyle Group, the private equity giant, and Louis Bacon, the star hedge fund trader, founder and CEO of Moore Capital Management will sell their holdings in Traxys Group, a metals and natural resources trader and merchant, to a group of investors led by high-frequency trading firm Optiver after buying a majority stake in the company in March 2014. 

CoLift, an investment firm, and an investor group active in mining and natural resources led by Regent Mercantile Holdings Limited and LOM Financial Group, will also acquire Traxys. Traxys’ management will also increase its ownership stake.  

Financial terms were not disclosed; however, Traxys was seeking investment at a valuation of about $300 million, according to Bloomberg News. The transaction is expected to close in May 2023. 

Dutch firm Optiver is a specialist market maker in liquid electronic markets including exchange-traded funds, while Traxys is a mid-sized physical trader with a focus on metals like rare earths, cobalt and tin.  

According to Traxys’ chief executive officer Mark Kristoff, the deal could see the company partner with Optiver to develop new derivatives markets for those niche metals. 

“We believe that combining Traxys’ in-depth knowledge of the raw materials markets with Optiver’s financial strength and expertise in financial derivatives trading will enable us to better serve our customers and suppliers with new solutions to secure their supply and optimize price exposure in our key markets,” said Kristoff. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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