NEW YORK and HOUSTON, July 25, 2016 /PRNewswire/ -- HudsonField announced today it raised equity growth capital from a consortium of private investors. As part of the transaction, the consortium made a significant equity investment in HudsonField, reserved substantial equity capital to support the company's growth initiatives, and has added prominent new members to its board of directors.
The equity investment was led by Harvey Golub, with significant investments from GF Investments and other private investors. HudsonField provides midstream marketing and transportation services, investment banking, and risk management services to the North American oil and gas markets. Sweeping changes in legislation after the financial crisis have significantly impaired the ability of existing intermediaries to provide the type of services HudsonField offers its clients.
"Our ability to help our clients grow and manage their business has taken a major step forward with the support of our new investor partners," said Ben Freeman, CEO and founder of HudsonField. "We've developed a unique model dedicated to helping energy market participants grow their businesses, as HudsonField is a client-focused platform for capital, marketing and transportation, and risk management services."
Harvey Golub, chairman of Miller Buckfire & Co. LLC, director of Dynasty Financial Partners, who previously served as chairman and CEO of American Express, and former director of the Hess Corporation, AIG, and the Dow Jones & Company, joins HudsonField as chairman of the board of directors. He said, "The rules have changed in the financial services marketplace. Also, the current state of capital and energy markets has created an opportunity for HudsonField to more effectively service its customers. There is a growing demand for HudsonField's services, and this is the right team to meet those needs."
The seasoned board roster includes:
- Rodney Chase, board director for both Tesoro and Hess corporations and former BP Plc deputy Group CEO and board director;
- George Wasaff, chairman of the board for Tuscany Oilfield Holdings, co-founder of AEI, and former CEO for both Pride International's Latin American division and Transportadora de Gas del Sur S.A.;
- Sam Levinson, managing partner at GF Investments, director of both Stonegate Mortgage Corporation and Dynasty Financial Partners, LLC;
- Ben Freeman, CEO of HudsonField, former managing director and global head of crude oil trading at Goldman Sachs;
- Scott Bormaster, president of HudsonField marketing and transportation, former VP of oil business development for Buckeye, and managing director of oil marketing for Apache Corporation;
- Seth Kammerman, CFO of HudsonField, former managing director of global liquidity products at Goldman Sachs; and
- Ari Pluchenik, senior portfolio manager at GF Investments and director of Oasis Systems.
HudsonField previously announced a strategic relationship for financing opportunities in the North American oil and gas sector with AB Private Credit Investors, the middle market direct lending platform of AB (AllianceBernstein). HudsonField's relationship with AB continues to grow with the addition of Peter Kraus, AB's CEO and chairman of the board, as a special advisor to HudsonField's board of directors. "We are excited to build upon our relationship with HudsonField, particularly given their expertise in helping solve problems in marketing, hedging and financing," said Kraus.
HudsonField is a client-focused company providing solutions to physical logistics, financing, and risk management challenges. The company's clients are oil & gas producers, midstream operators, end-users of oil & gas, and financial services companies. HudsonField is uniquely positioned to solve problems in the ever-changing mosaic of energy markets, bank and commodity regulations, and geopolitics. Formed in 2014, HudsonField is led by energy and financial services industry veterans. Additional information about HudsonField may be found on its website, www.hudsonfield.com.
AB is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. At June 30, 2016, AB Holding owned approximately 35.9% of the issued and outstanding AB Units and AXA, one of the largest global financial services organizations, owned an approximate 63.8% economic interest in AB. Additional information about AB may be found on its website, www.abglobal.com.