Hedge fund Jain Global has made its first significant move into physical natural gas trading through the acquisition of wholesale marketing firm Anahau Energy, according to a report by Bloomberg citing unnamed people familiar with the matter.
The deal allows Jain Global to expand its commodities footprint – which currently represents around 15% of its capital – by entering the US physical gas market ahead of schedule. Building a physical trading operation from scratch is typically time-intensive and capital-heavy, requiring long-term agreements for pipeline capacity, storage, logistics, and regulatory approvals.
The acquisition, reportedly valued at under $10m, positions Jain Global to launch physical trading this year rather than in 2026, with operations led by portfolio managers Christian Allen, Steven Wen, and Amine Alaoui, all recent hires from major commodities and hedge fund desks.
Jain Global, founded by Bobby Jain – once Co-CIO of Izzy Englander’s Millennium Management – raised $5.3bn for its launch last year, marking one of the largest debut hedge fund raises since 2018. Since then, the firm has been steadily expanding its commodities team, led by CIO David Hochberg.
Jain Global has reported a 2.4% net gain year-to-date through July, with the commodities segment’s contribution not publicly disclosed.
