Could it be Odey Asset Management..
bylinetimes.com/2022/09/22/fracking-minister-funded-by-fossil-fuel-investor/
Rees-Mogg is well-known for his open denial of climate science, and his role as a founding partner at hedge-fund Somerset Capital Management which enjoys fossil fuel ties. His longstanding relationship with Robin Crispin Odey, however, has been largely unreported until now. It throws new light on the ‘disaster capitalism’ mindset that appears to animate Mogg’s policy ideas.
Odey, who is on the Sunday Times Rich List for his £775 million fortune, is a founder of hedge-fund Odey Asset Management, where he personally managed some $4 billion in assets. A long-time Conservative Party donor, back in 2007 Odey’s firm incubated Jacob Rees-Mogg’s just-launched Somerset Capital Management before it had even received regulatory approval.
But this was just the beginning. Throughout his career since becoming the Conservative MP for North East Somerset – nearly a decade – Rees-Mogg received repeated donations from Odey. He received £2,000 from Odey in 2010, £9,000 in 2013, £6,000 in 2015 and £5,000 in 2017.
It’s well known that Odey is an avid Brexit supporter. In 2016, he gave £217,192 to the hard Brexit lobbying outfit Global Britain Ltd, during which its director Brian Monteith was seconded into becoming Leave.EU’s communications chief.
Odey, who previously made millions short-selling bank stocks during the 2008 crash, made millions after the Brexit referendum by betting against the pound in 2016. In 2019, when he donated £10,000 to Boris Johnson for his Tory leadership campaign, Odey again bet around £300 million against British firms like Royal Mail and retail owner Intu.
Odey is also a fossil fuel investor. Odey Asset Management owns shares in Jadestone Energy, a Singapore-headquartered oil and gas producer; Equinor, Norway’s state-owned oil and gas giant; and Aker BP, a Norwegian oil firm jointly owned with British Petroleum.
In the first two months of 2022, his hedge fund surged over 30% from fossil fuel investments that many pension funds and endowments refuse to hold due to their link to climate risks.
After Russia invaded Ukraine in February, Odey escalated this strategy by cashing in on bets that oil and gas prices would soar. While Odey and his firm reaped millions, most Britons are alarmed at how they will cope as the cost-of-living crisis resulting from these energy price hikes shows no signs of disappearing anytime soon.
Then in April, while other companies were fleeing Russian investments, Jacob Rees-Mogg’s hedge-fund patron was doing the opposite. He bought shares in Russian mining giant Polymetal International Inc., whose founder and largest shareholder is billionaire oligarch Alexander Nesis.
In 2018, Nesis was on a US Treasury Department list of oligarchs identified as close to President Vladimir Putin. Nesis is also among four Russian oligarchs who, since Russia’s annexation of Crimea in 2014, received over $4 billion in dividends from investments in companies on the London Stock Exchange.