Saturday, 20 September 2014
Last updated 13 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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