Multi-strategy hedge fund firm LMR Partners has bolstered its commodities team to tap into potential investment opportunities from a new oil-based strategy it launched earlier this year, according to a report by Bloomberg.

The report cites an investor letter seen by Bloomberg in revealing that the London-based firm recently hired Mike Severo, who formerly traded oil, exotics and commodity index options at Goldman Sachs, as well as former Vitol oil-derivatives trader Jordan Valer as a Portfolio Manager.

LMR manages about $11bn from offices in London, Hong Kong, New York, Zurich, Glasgow and Dubai, using both systematic and discretionary strategies, according to its website.