TCI Revenue Rises 40%

Jul 1 2008 | 12:38pm ET

The Children’s Investment Fund, one of the largest and most prominent activist hedge fund shops in the world, reported a 40% rise in annual revenue.

London-based TCI said it took in £333.1 million (US$664 million) in the year ended August 2007, according to financial statements filed with Companies House in London. In the year-earlier period, TCI’s revenue was £241.8 million (US$482 million).

Profit was £321 million (US$639.9 million).

The filing did not include details about the firm’s assets under management, which are thought to have risen by about one-third to US$13 billion, or its performance.

Administrative and staff costs doubled during the fiscal year, the former rising to £11 million from £5.5 million, with staffing costs rising from £580,000 to £1.2 million. The number of administrative staff more than tripled from five to 17.

 


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