Millennium Management has reportedly hired natural gas trader Ryan Sheffler from Castleton Commodities International, a move that underscores the fierce competition among multi-strategy hedge funds to build out commodities trading teams, according to With Intelligence.
Sheffler had previously been expected to join Point72 after reports earlier this year that Steve Cohen’s firm was expanding into commodities investing. However, industry reports now indicate that he will instead join Millennium. Neither Millennium nor Sheffler has reportedly publicly commented on the move, while Point72 declined to comment.
The appointment adds to Millennium’s growing commodities franchise. Earlier this year, the firm also recruited former Castleton natural gas trader Fernando Ortiz, further strengthening its energy trading capabilities.
The hiring comes as leading hedge funds continue to invest heavily in commodities teams following several years of elevated volatility across energy, metals and agricultural markets. Demand for experienced traders has increased sharply, particularly those with expertise in natural gas and power markets.
