Six One Commodities Acquires Vega Energy Partners and WGL Midstream
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Six One Commodities Global, a natural gas and power merchant backed by Pinnacle Asset Management has acquired Vega Energy Partners (VEP) and WGL Midstream.
VEP is a Houston, Texas-based energy merchant that, in addition to managing the assets of WGLM, holds asset management agreements and has a strong team moving to 61C Global’s platform as part of the transaction. WGLM is a wholesale energy solutions business that invests in and optimizes natural gas pipelines and storage facilities in the Midwest and Eastern United States.
“This is a transformational opportunity for 61C Global. These acquisitions will accelerate our growth in the natural gas market, add significant earnings potential, and provide a solid platform for us to link our existing domestic and international LNG businesses,” said Ben Sutton, chief executive officer of 61C Global.
“We are excited to establish a Houston office and presence, and we look forward to integrating and working collaboratively with the talented team at VEP to further position us as a premier globally integrated energy merchant company,” added Sutton.
“These acquisitions of VEP and WGLM are a seamless way for 61C Global to gain a significant footprint in the U.S. natural gas market. We look forward to leveraging VEP and WGLM’s assets and capabilities as we continue to expand the 61C Global business,” said Jason Kellman, managing partner and chief investment officer of Pinnacle.
About Six One Commodities
In August of 2018, Pinnacle Asset Management and affiliated investment entities, a leading commodities and natural resources investment organization, partnered with Ben Sutton, who had served as Head of North American Gas and Power at Noble Americas Gas & Power Corp., to form 61C Global.
61C Global is an international natural gas, LNG, and power merchant headquartered in Stamford, CT. The Six One team has a demonstrated track record of unique market insight, strong client relationships, and disciplined risk management to execute on opportunities within the gas and power merchanting space.
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