Hohn charity reinvests bulk of £800m back into TCI
Christopher Hohn’s charitable foundation has reinvested virtually all of its £800m (€1bn) endowment back into the activist hedge fund manager’s hedge funds, analysis of recently filed accounts showed, according to a report in The Independent.
The Children's Investment Fund Foundation has invested £767m of its endowment in TCI, Hohn's hedge fund business, as per the accounts. The foundation will not be charged any management fee for its participation in the hedge fund, and is free to withdraw its money at any time, a CIFF spokesman said.
The CIFF spent only £11.7m last year on charitable activities, with the single-biggest disbursement being to the William Jefferson Clinton Foundation's HIV/Aids initiative. It hopes to declare two $50m donations this summer.
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