Balyasny Asset Management has hired Ross Hendey from Glencore as part of a continued push to scale its commodities capabilities, according to a report by Reuters citing unnamed sources familiar with the move.

Hendey, who currently leads liquefied petroleum gas (LPG) trading at Glencore, is set to join the hedge fund in September. He is expected to establish and run an independent investment team focused on LPG and refined products, while remaining based in London.

The appointment underscores Balyasny’s broader effort to build out its commodities trading franchise amid heightened volatility across global energy markets. Recent geopolitical disruptions – including the ongoing conflict in the Middle East and supply chain constraints – have driven sharp moves in oil and fuel prices, creating fertile conditions for hedge funds active in the sector.

Hendey has headed LPG trading at Glencore since late 2023. Prior to that, he held trading roles at EDF Trading and INEOS, and began his career in futures markets at OSTC. Neither Balyasny nor Glencore commented on the hire.