Verition Fund Management has appointed Alex Mouturat, a former senior portfolio manager at Millennium Capital Partners, to build a dedicated energy trading team focused on European natural gas, power, carbon, and oil, according to a report by Bloomberg.

Mouturat, who previously traded power at EDF Trading and Engie, will join Verition as a Portfolio Manager to establish his own trading pod. The Greenwich-based hedge fund, which has offices in London, Singapore, Dubai, and Hong Kong, is seeking to expand its multi-asset platform into commodities.

Despite a volatile year for commodity markets, hedge funds continue to target European energy, where LNG supply growth and the rapid expansion of renewables are expected to drive ongoing trading opportunities.