Carlyle, Louis Bacon To Acquire Majority Interest In Traxys Group

(RTTNews) - Global alternative asset manager The Carlyle Group (CG), together with affiliates of Louis Bacon, the founder, Chairman, Chief Executive Officer and principal investment manager of Moore Capital Management, LP, have agreed to acquire a majority interest in the Traxys Group, a physical metals and minerals commodity merchant, logistics and trading firm.

Carlyle, Bacon and Traxys management are acquiring their stake from Pegasus Capital Advisors, Kelso & Company and Resource Capital Funds.

The transaction is expected to close in the third quarter of 2014. As part of the transaction, Traxys management will increase its investment stake in the company.

Traxys is a provider of marketing, distribution and supply chain management services to the metals and natural resources sectors. The company provides value-added services to commodity producers and consumers including logistics, offtake, hedging, financing and distribution.

Additionally, Traxys pursues opportunistic, direct investments in infrastructure assets and commodity producers that complement its core business activities.

Equity capital for Carlyle's investment in Traxys will come from Carlyle's U.S. Equity Opportunity Fund L.P.

CG fell 3.8 percent on Thursday to close at $32.89.