The Children's Investment Fund
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The Children's Investment Fund (TCI) is a London-based hedge fund. The $7 billion (estimated) hedge fund was launched in January 2004 by money manager Christopher Hohn[1]. Its main headquarter is located in the tax haven Cayman Islands.
TCI derives its name from its annual donation of the equivalent of 0.5% of assets under management to charity. That added up to $18 million in 2004 [2].
The charity is channeled through a foundation called TCI Fund Foundation, run by Hohn's wife, Jamie Cooper-Hohn, and is one of Great Britain's biggest charities [3].
TCI has made a name as an elusive hedge fund (has no website) known for aggressive shareholder activism. TCI has been a major shareholder of the German stock exchange Deutsche Börse where it forced the resignation of the CEO after he refused to abandon his plan to takeover the London Stock Exchange. In 2007, after acquiring 1% of the shares of major Dutch bank ABN AMRO, TCI led an attack demanding the bank split up or sell to the highest bidder to produce shareholder value [4].
[edit] References
- ^ The Children's Investment Fund
- ^ "A Little Fund With Big Demands". Business Week online, May 23, 2005, link.
- ^ "Hedge fund 'UK's biggest donor" Story from BBC NEWS: link. Published: 2006-06-28 05:25:20 GMT.
- ^ NRC Handelsblad (Dutch Newspaper), February 22, 2007
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