Seth Klarman’s Hedge Fund

Seth Klarman’s Hedge Fund Increases Its Shares in Cheniere Energy, Inc.

Seth Klarman’s hedge fund founded in 1982 Baupost Group has increased its shares in Cheniere Energy, Inc., a provider of information on liquefied natural gas, US energy demand, and how LNG can help to safely diversify and expand our energy supply, by 24,807,230 share, or more than double the 11,199,030 share valued at $775+ million USD they owned as per their Q3 2014 13F filing.
This stock holding is worth at today’s prices $1.7+ billion USD which is about 6% of the whole Baupost Group fund’s AUM ($28+ billion)! This is a pretty focused and enormous bet and probably indicates that Seth Klarman is still bullish on the company and its future.
Cheniere Energy is in a monster trend, as it has increased more than 15 times in the last few years. Even though the trend has cooled a little, probably due to the oil crash fiasco, Seth Klarman is probably using the correction to add to the fund’s position in the company at better prices. The $16 billion dollars Cheniere Energy now has Baupost Group as shareholder of 10%+ of the shares outstanding.
The company is active also in the debt market as it completed a planned debt increase of $11.5 billion to finish its Corpus Christi export facility with a production capacity of 13.5 million tons per year. A total of 18 financial institutions were approached for the debt raising and it was completed successfully. This also shows trust in the company from many leading banks.

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