Mutual fund giant Fidelity Management & Research (FMR) took a 10% stake in Teekay LNG Partners, according to a US regulatory filing, as long-term investors hope to ride the upcycle in LNG shipping.
FMR beneficially owns 7.9 million units in the publicly listed partnership for the LNG shipowner spun off from Teekay Corp. The filing indicates it is a passive stake, with no interest in control of Teekay LNG.
