Stone Ridge Acquires Wincoram to Accelerate Energy Asset Acquisition Strategy
Newly combined Stone Ridge Energy (“SRE”) team poised to capitalize on successful five-year partnership marked by acquiring and managing over $7B and 10 GW in natural gas wells
NEW YORK–(BUSINESS WIRE)–Stone Ridge Holdings Group (“Stone Ridge”), a financial services firm focused on alternative asset management, reinsurance, and bitcoin, today announced the acquisition of Wincoram Asset Management (“WAM”), a capital solutions provider to the physical and financial energy markets. This acquisition marks a significant milestone in the highly successful five-year joint venture between the two firms, in which they invested $7B in more than 10 GW of energy assets, delivering significant, persistent, and uncorrelated trading profits.
“SRE is transforming the energy landscape, the bedrock of our country, through innovative advancements in financial and operational management” said Ross Stevens, Founder and CEO of Stone Ridge. “This acquisition marks an important step in our journey delivering extraordinary business profitability, fighting energy poverty, and building the industry’s premier investor, owner, and operator.”
The partnership between Stone Ridge and WAM has been characterized by deep collaboration and remarkable success. Together, the firms have built a robust, market-leading platform consisting of the largest specialized team of its kind. They marry financial innovation and deep energy expertise to provide Americans with abundant, efficient energy.
This marks the second recent acquisition within the broader Stone Ridge energy ecosystem. NYDIG, a Stone Ridge bitcoin, power, and financial services company, recently acquired Crusoe’s bitcoin mining operations, making it one of the largest bitcoin miners in the world and the leader in Digital Flare Mitigation (“DFM”) technology. A groundbreaking technology, DFM captures natural gas that would have otherwise been burned off or “flared” and converts it into electricity to power advanced, modular data centers co-located onsite.
The combination of these two expanded organizations—NYDIG and SRE—brings powerful synergies with far-reaching implications. Stone Ridge will expand DFM to power mining with previously non-monetized, end-of-well-life stranded gas in the approximately 17,000 SRE well portfolio. This means previously wasted resources can now increase supply, leading to cheaper and more plentiful energy for all. “Cheap energy equals human flourishing,” added Stevens.
“After five years of extraordinary partnership, we’re excited to fully join forces with the Stone Ridge platform. This integration brings together unmatched capabilities across financial innovation, energy operations, and asset management – positioning us to deliver even greater value to our investors, partners, and the broader energy ecosystem,” said Michael Bertuccio, Managing Partner at WAM.
About Stone Ridge
Stone Ridge Holdings Group (“Stone Ridge”) is a financial services firm focused on alternative asset management, reinsurance, and bitcoin, with industry-leading operating companies that support and enhance each other. Stone Ridge Asset Management invests broadly and profitably across its suite of uncorrelated, diversifying franchises. Longtail Re leads the casualty reinsurance industry in both absolute and risk-adjusted performance. NYDIG develops proprietary infrastructure to profitably interact with bitcoin-related power and financial services markets. We exclusively build products we want for ourselves, each with meaningful investment from our balance sheet.
To learn more, please visit www.stoneridgeam.com
Contacts
Media
Marc Feuerstein
Marc.Feuerstein@stoneridgeam.com
212-970-8318
