Sunday, 28 August 2016
Last updated 1 day ago
Nov 4 2009 | 2:53am ET
Defeated and decapitated in Asia, activist hedge fund The Children’s Investment Fund is getting out of the region.
TCI has sold off most of its investments in Asia and is trying to drum up interest from other hedge funds in taking over what’s left of its portfolios there, Reuters reports.
The hedge fund shut its Hong Kong office in October, after losing its battle with Japan’s Electric Power Development Co., or J-Power. TCI sold of its stake in the company, Japan’s largest electric utility, that month, losing $130 million on its investments.
In April, John Ho, TCI’s top executive in Asia, resigned, one of three senior departures from the hedge fund this year.