Former UBS Star Trader Takes 6.5% Stake in Cheniere Energy (LNG)
In a pretty standard disclosure, SRM said it intends to review their investment in CNG on a continuing basis and may engage in discussions with management concerning the business and future plans.
SRM Global was recently launched by Jon Wood, a former star trader at UBS AG, who according to an article from Bloomberg, helped the bank earn $2.4 billion over a six-year span. The report said Wood never lost money for clients during his 16 years at UBS, according to a marketing document sent to prospective investors. Wood's fund was one of the most anticipated of the year and quickly raised over $3 billion.
Shares of Cheniere Energy, a developer of liquid natural gas-receiving terminals, are trading at $26.50 --- near a 52-week low of $24.72 and well off the 52-week high of $44.40.