Verition Fund Management is expanding its energy trading platform in a year when many commodity specialists have struggled to generate returns, hiring around 10 senior energy traders across London and Dubai over the past year, according to a report by Bloomberg.
The contrarian move underscores how multi-strat hedge funds are using 2025’s volatility reset to hire talent at more attractive prices.
The report cites unnamed people as confirming that the Connecticut-based firm, now managing $13.7bn, has grown from three to six commodity pods, with most of the new hires focused on power markets — an area drawing renewed hedge fund interest as AI-driven electricity demand transforms trading dynamics. Others will cover refined products, natural gas, softs, oil and commodity volatility.
Verition’s total commodities risk exposure remains around 3%, well below multi-strat rivals such as Citadel or Jain Global. But the firm is positioning for a rebound as energy markets transition from crisis-era volatility to more complex, policy-driven swings that have challenged both the majors and trading houses.
New joiners include James Hutchinson from Millennium and Gregory Galimberti from TotalEnergies, who will trade refined products from Houston, as well as senior London hires from Beaufort Energy including founder David Brookes. In Dubai, the firm has brought in ex-Millennium trader Alex Mouturat to build a team focused on European gas, power, carbon and oil.
Unlike peers such as Jane Street, Balyasny and Qube, which are aggressively pushing into physical commodities, Verition is sticking to financial instruments — swaps, options and derivatives — consistent with its multi-pod, market-dislocation-focused model.
