Sunday, 19 April 2015
Last updated 7 hours ago
Jun 8 2010 | 12:23pm ET
The Charitable Foundation that gives The Children’s Investment Fund its name has fallen on hard times along with the hedge fund.
The Children’s Investment Fund Foundation, which receives a set portion of TCI’s fee income, received just £19 million from the hedge fund last year, down from £486 million in 2008, Financial News reports. TCI has been hurt by poor performance in recent years and has seen a raft of high-level departures over the past several months.
Not even its own charity has stuck by it, with foundation slashing its investments in the hedge fund from £1.5 billion—essentially all of its money—to just £17 million, as part of its plan to diversify its investments.
The TCI Foundation said its assets had fallen by £100 million last year after doubling in 2008. It awarded £17.9 million in grants, down from £30.6 million in 2008. The charity said the lower payouts reflected a streamlining in its due diligence processes.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…