Debevoise & Plimpton LLP is advising the Traxys Group, a physical metals and minerals commodity merchant, logistics and trading firm, in the agreement to sell of a majority interest in Traxys to The Carlyle Group and affiliates of Louis M. Bacon, the founder, Chairman, Chief Executive Officer and principal investment manager of Moore Capital Management, LP. The transaction is subject to customary closing conditions including required regulatory approvals and is expected to close in the third quarter of 2014. Carlyle, Mr. Bacon and Traxys management are acquiring their stake from Pegasus Capital Advisors, Kelso & Company and Resource Capital Funds.

Traxys is a leading provider of marketing, distribution, and supply chain management services to the metals and natural resources sector. The company also provides value-added services to commodity producers and consumers including logistics, offtake, hedging, financing, and distribution. In addition, Traxys pursues opportunistic, direct investments in infrastructure assets and commodity producers that complement its core business activities.

The Debevoise team is led by partner Kevin Schmidt and includes partner Gary W. Kubek, counsel Kyra K. Bromley, international counsel Timothy McIver, and associates Jessica Batzell, Molly F. Stockley, Alan J. Yurowitz, Kevin Bensley and Michael Bolotin.