CIFF used to be Chris Hohn's 'venture philantropy' project (aka tax-free conduit) financed by the proceeds of his hedge fund The Children's Investment Fund (TCI).
TCI is a hedge fund founded by Chris Hohn. It's famously 'activist' - i.c. hiding huge financial and political interests behind genuine shareholder or humanitarian concerns.
TCI was solely responsible for the unloading, just before the Crisis hit, of all ABN AMRO's derivative losses on Fortis, Santander and RBS, all of which had to be saved to the tune of hundreds of billions of British, Spanish, Belgian and Dutch taxpayers' money. Only one of them survived more or less intact
TCI also made a killing by forcing the unfriendly takeover of Arcelor steel by Mittal. These are both some of the largest takeovers ever in some of the most strategically important industries.
I think it's safe to say that at the very best, The Children's Investment Fund has nothing to do with children.
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anolegion ago
CIFF used to be Chris Hohn's 'venture philantropy' project (aka tax-free conduit) financed by the proceeds of his hedge fund The Children's Investment Fund (TCI).
TCI is a hedge fund founded by Chris Hohn. It's famously 'activist' - i.c. hiding huge financial and political interests behind genuine shareholder or humanitarian concerns.
TCI was solely responsible for the unloading, just before the Crisis hit, of all ABN AMRO's derivative losses on Fortis, Santander and RBS, all of which had to be saved to the tune of hundreds of billions of British, Spanish, Belgian and Dutch taxpayers' money. Only one of them survived more or less intact
TCI also made a killing by forcing the unfriendly takeover of Arcelor steel by Mittal. These are both some of the largest takeovers ever in some of the most strategically important industries.
I think it's safe to say that at the very best, The Children's Investment Fund has nothing to do with children.