Jeremy Hosking
Jeremy Hosking | |
|---|---|
| Born | 20 July 1958 |
| Nationality | English |
| Alma mater | University of Cambridge |
| Occupation | Businessman |
| Known for | Co-founder Marathon Asset Management |
| Political party | Conservative Party Vote Leave Brexit Party |
| Spouse | Elizabeth Ann Karslake (married 1993) |
Jeremy John Hosking (born 20 July 1958) is an English businessman and political donor. He made his fortune through investment and private equity, including as a co-founder and investment portfolio manager for private investment fund Marathon Asset Management. He donated £1.7 million to Vote Leave in 2016 and supported pro-Brexit candidates in the 2017 general election. Hosking is a large collector of steam locomotives, and a shareholder of Crystal Palace F.C.. He was ranked number 351 in the Sunday Times Rich List in 2019, with a net worth of £375 million.[1]
Early life
Jeremy Hosking was born on 20 July 1958. He graduated from the University of Cambridge in 1979.[citation needed]
Career
Marathon
Hosking first worked for G.T. Management PLC in Hong Kong and the United States.
In 1986, Hosking co-founded Marathon Asset Management LLP in London (this is a London-based privately owned, equity focused investment firm; it has nothing to do with the similarly named Marathon Asset Management LP, the $12.8 billion New York City firm specializing in distressed debt), with Neil Ostrer and William Arah. Hosking led investment in South East Asia, the Americas and South Africa. Hosking has written various papers on investment and corporate governance, including "South East Asia: Eighteen Reasons to be Bearish" in August 1995.
Hosking & Co.
Hosking separated from Marathon in 2012, stating his intent to retire. In late 2012, Hosking set up Dublin-listed asset manager Hosking & Co.[2]
In October 2016 a judge has upheld a £10.4 million ruling on appeal claim made by Marathon Asset Management against Hosking. The company accused Hosking of breaching "contractual and fiduciary duties" while working there because he discussed plans for a new business with other employees. Hosking was made to pay £1.38 million in damages, and a further £10.4 million – half of the profits Hosking received for the period between mid-July and mid-December 2012 – in 2015. That was subject to an appeal in which Hosking argued profit shares could not be forfeited, but this was dismissed by the judge.[3]
Private investments
In March 2010, Hosking bought the West Sussex country house hotel, the Gravetye Manor, out of administration.[4]
In August 2010, Hosking was part of a four-man consortium which bought Selhurst Park, and then residents Crystal Palace football club out of administration, via the limited company CPFC 2010.[5] On 18 December 2015, it was announced that American investors Josh Harris and David Blitzer had bought a major share holding in the club.[6] Whilst Steve Parish continued as chairman alongside Harris and Blitzer, fellow CPFC 2010 investors Browett, Long and Hosking each retained a reduced 8% investment.[7]
Political activity
In December 2009, Hosking donated £30,000 for funding research support, to Conservative MP David Davis.[8] Hosking donated £100,000 to the Conservative Party in the 2015 general election.[9]
Hosking donated £1.7 million to Vote Leave in the Brexit referendum of 2016.[9] In the 2017 general election, he gave financial support to pro-Brexit candidates.[9]
In February 2019 Hosking submitted the paperwork to found a new party called Brexit Express, which would welcome Tory MPs unhappy with the Prime Minister's Brexit plans. At the same time, he launched a public campaign in favour of a no-deal Brexit.[10]
On 11 May 2019, The Guardian reported that Hosking had donated £200,000 to the Brexit Party.[11]
Railways
Hosking owns a number of steam locomotives and three diesel locomotives, a number of which are operated by Locomotive Services Limited which is also under his control. He also founded the Royal Scot Locomotive and General Trust, originally to purchase 6100 Royal Scot. The trust now owns a number of steam locomotives and operates workshops at Crewe. In 2016, Hosking purchased a one-third stake in the Dartmouth Steam Railway plc which operates the Paignton to Dartmouth heritage line in Devon.[12][13]
Personal life
Hosking married Elizabeth Ann Karslake in 1993.[14]
References
- ^ "Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham". The Sunday Times. 12 May 2019. ISSN 0140-0460. Retrieved 25 May 2019.
- ^ hosking. "Hosking Partners LLP".
- ^ Bucak, Selin (5 October 2016). "Judge upholds fund giant's £10.4m legal claim against co-founder". Citywire.
- ^ "Hosking stokes up luxury hotel purchase". The Times. 2 March 2010. Retrieved 11 January 2011.
- ^ "Long live Crystal Palace" Archived 1 February 2011 at the Wayback Machine, Daniel Jones, This is Croydon Today
- ^ "Crystal Palace: Deal agreed with US investors Harris and Blitzer". BBC Sport. 18 December 2015. Retrieved 19 December 2015.
- ^ "Investment Deal Is Signed". Crystal Palace F.C. 18 December 2015. Retrieved 19 December 2015.
- ^ "David Davis". TheyWorkForYou.com. Retrieved 11 January 2011.
- ^ a b c Savage, Michael (13 May 2017). "Millionaire Brexit donor targets 140 remain MPs in general election". The Guardian. Retrieved 14 May 2017.
- ^ Savage, Michael (17 February 2019). "No-dealers dig in for a fresh battle amid fears of Tory split". The Observer. ISSN 0029-7712. Retrieved 17 February 2019.
- ^ Busby, Mattha (11 May 2019). "Tory donor gives £200,000 to Nigel Farage's Brexit party". The Guardian. ISSN 0261-3077. Retrieved 15 May 2019.
- ^ Steam Raiwlay, page 10, September 2016
- ^ "Locomotive Services Limited". Companies House. Archived from the original on 19 June 2019. Retrieved 19 June 2019.
- ^ "Person Page". thepeerage.com.