Hedge fund boss Chris Hohn’s charity for children sees assets grow to $4.4 billion

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The Children’s Investment Fund Foundation (CIFF) was set up more than a decade ago to “tackle preventable deaths, illness, abuse and malnutrition”.

It has since received more than $2 billion in donations from Hohn’s hedge fund, the Children’s Investment Fund (TCI), but has also grown by investing its own money.

According to documents published at Companies House, the foundation’s net assets grew from $3.7 billion to $4.35 billion in the year ending August 31, even though Hohn cut its charitable donations after getting divorced from his wife last year.

 

Jamie Cooper-Hohn was awarded £337 million by a High Court judge last year in Britain’s biggest divorce settlement.

Instead its assets were boosted by a net investment return of 19.2% on its portfolio of assets, which include UK and overseas equities.

This is managed by TCI, which was paid $63.6 million in fees. Overall, CIFF committed $153.8 million to “charitable activities” last year.

Until last year, the charity was chaired by Cooper-Hohn, but she has now been replaced by former Government minister Mark Malloch Brown.

She remains a trustee alongside Sir Chris.

Source Article from http://www.standard.co.uk/business/business-news/hedge-fund-boss-chris-hohns-charity-for-children-sees-assets-grow-to-44-billion-10181607.html

April 16, 2015 |
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