Citadel Buys Goldman Alum’s Company to Trade Power in Japan (1)

Ken Griffin’s Citadel is buying Energy Grid Corp., a company that trades and sells power products, as the hedge fund firm expands its commodities business in Japan.

The acquisition of Tokyo-based Energy Grid is expected to close in the third quarter, the company said in a statement Friday. Pricing details of the deal weren’t disclosed.

Japan’s power industry, which was liberalized in 2016, is attracting more overseas firms as volatility increases due to extreme weather, a transition away from fossil fuel, and the resumption of some nuclear reactors. Firms need to be onshore and licensed to begin physical ...