CITIZEN POWER ALLIANCE

U.S. natural-gas company Chesapeake Energy Corp. said it has sold $900 million in preferred stock to a group of private investors, including Asian sovereign wealth funds, cashing in on heightened interest in onshore energy following the BP PLC offshore drilling disaster.

This follows Chesapeake's sale of $1.7 billion worth of preferred stock last month.

In a placement that closed Friday, Chesapeake sold shares to sovereign wealth funds China Investment Corp. Corp., Korea Investment Corp. and Temasek Holdings, the New York-listed firm said in a statement Monday. Other investors were Hopu Investment Management Co., a Chinese private-equity fund, and the Li Ka Shing Foundation, a charitable foundation established by a Hong Kong tycoon, the company said.

According to a person familiar with the deal, Abu Dhabi Investment Council, Abu Dhabi's sovereign wealth fund, and Japan's Daiwa Securities also invested in the deal.

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