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London hedge fund tycoon cuts pay 20%, still banks £215m

London hedge fund tycoon cuts pay 20%, still banks £215m

Hedge fund tycoon Sir Chris Hohn reduced his income by more than a fifth last year but still took home £215 million during a bumper period for his mandate, the Children’s Investment Fund.

The disclosure was reported in TCI’s accounts for the 12 months to the end of February, showing profit up 30% to £278 million on revenues 9% higher at £375 million.

Hohn, a renowned philanthropist estimated to have given around £1 billion to charity through his Children’s Investment Fund Foundation and who was knighted four years ago, had banked £270 million in the prior year.

Hohn was ranked sixth on Institutional Investor magazine’s hedge fund rich list last year with a total increase in wealth of circa £608 million, leapfrogging from 11th highest placed in the previous year. His fund TCI is believed to manage around £14 billion in assets.

The mandate runs a high conviction basket of activist equity holdings, and has conducted high-profile spats with the management of the London Stock Exchange, among others.

Following one particularly bruising encounter over Deutsche Borse’s attempt to buy the LSE he was among a series of investors memorably described as a ‘locust’ by a frustrated German regulator.

 

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