Soroban Fund Buys 5.1% Stake in Williams Pipeline Company

Soroban Master Fund LP, founded by former TPG-Axon Capital Management LP Co-Chief Executive Officer Eric Mandelblatt, bought a 5.1 percent stake in Williams Cos. (WMB), becoming the pipeline company’s third-largest shareholder.

The fund owns 31.8 million shares in Tulsa, Oklahoma-based Williams, according to a filing with the U.S. Securities and Exchange Commission today. The Cayman Islands-based fund is part of Soroban Capital Partners LLC, a hedge fund Mandelblatt formed two years ago that also holds shares in Cheniere Energy Inc., SemGroup Corp., Kinder Morgan Inc., Phillips 66 and Spectra Energy Corp., according to an Aug. 14 filing.

Williams has gained 32 percent this year, the best performance among the 15 companies of the Dow Jones Utilities Average (UTIL) index. The shares fell 0.1 percent to $35.55 at the close in New York today.

Soroban Capital Partners disclosed a 5.4 percent stake in Petrohawk Energy Corp. in April 2011, three months before BHP Billiton Ltd. (BHP) announced it would buy the oil and natural gas producer for a 61 percent premium, according to data compiled by Bloomberg.

To contact the reporter on this story: Jessica Resnick-Ault in New York at jresnickault@bloomberg.net

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net

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