Jain Global Jumps Into U.S. Energy Trading
By Tyson Slocum
On March 6, a joint application for Jain Global to acquire Anahau Energy LLC was filed under Section 203 of the Federal Power Act in Federal Energy Regulatory Commission docket EC25-62.
The hedge fund Jain Global—managed by Bobby Jain—launched just last year and raised $5.3 billion from investors, including $1 billion from the Abu Dhabi Investment Authority (ADIA), which is controlled by the government of the Emirate of Abu Dhabi. ADIA is affiliated with numerous entities with MBR authority. It would be difficult to characterize ADIA as a passive investor in Jain Global, because any investor representing one-fifth of the entire value of a hedge fund is going to have affiliate-like treatment, in terms of preferential fee structure and the simple fact that ADIA withdrawing its capital from the fund would likely lead to a dissolution of Jain Global. The Commission should therefore deem ADIA to be an affiliate of Jain Global, per 18 CFR § 35.36(a)(9).
Read the full filing here: AnahauJain_Public