The state-owned Abu Dhabi Investment Authority (ADIA) has acquired a 5.05% share in U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc., according to a Wednesday filing with the U.S. Securities and Exchange Commission.

The sovereign wealth fund owns about 12.7 million shares of Houston-based Cheniere that are valued at about $648 million. Cheniere’s share price gained more than 4% on Wednesday to close at $50.50.

ADIA is now Cheniere’s fourth-largest shareholder, Bloomberg reported. ADIA is the world’s third-largest sovereign wealth fund with assets of $597.6 billion, according to the Sovereign Wealth Fund Institute, a non-profit group.

Cheniere, the largest domestic LNG producer, owns the Sabine Pass LNG facility in Louisiana and the Corpus Christi LNG...