Chris Hohn

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Sir Chris Hohn
Born Christopher Anthony Hohn
October 1966 (age 50)
Addlestone, Surrey, England
Alma mater University of Southampton
Harvard University
Occupation Investor, hedge fund manager, and philanthropist
Known for Founding and managing The Children's Investment Fund Management
Net worth US$2.1 billion (May 2017)[1]
Title Sir
Spouse(s) Jamie Cooper (divorced)
Children 4

Sir Christopher Anthony Hohn[2] KCMG (born October 1966) is an English investor, hedge fund manager. In 2003 Hohn established The Children's Investment Fund Management (TCI) a prominent value-based investment fund manager noted for long-term, owner orientated engagement with publicly listed companies. Profits generated by the fund were proportionatly allocated to The Children's Investment Fund Foundation a registered charity in England and Wales that focuses on improving the lives of children living in poverty in developing countries.[3] In the five years from 2006 until 2011, Hohn gave away almost £1 billion.[3] He is known as an activist investor.

Early life[edit]

Christopher Anthony Hohn was born in October 1966[4] in Addlestone, Surrey.[5] His father Paul[6] was a Jamaican-born car mechanic of European descent who moved to Britain in 1960, and his mother was a legal secretary from East Sussex.[7] After gaining 13 O Levels, he attended the University of Southampton which he graduated from in 1988 with a first-class honours in accounting and business economics.[5] Whilst at Southampton, a tutor advised him to apply for Harvard Business School, where he completed the Master of Business Administration course.[7] He graduated in 1993 as a Baker Scholar, meaning he was among the top 5 per cent of all graduates.[7]

Career[edit]

After graduating, Hohn worked for the private equity group Apax Partners.[5] In 1996 he went to work for Perry Capital, a hedge fund on Wall Street.[5] In 1998 he was made head of Perry's London operations.[5] In his time with Perry, he earned an estimated £75m.

In 2003, Hohn set up his own hedge fund, The Children's Investment Fund. TCI donated regularly to a connected charitable fund, The Children's Investment Fund Foundation, run by his wife. The original formula involved transfers of 0.5 percent of the fund's assets each year, with a further 0.5 per cent of assets for every year during which the fund achieved returns of more than 11 per cent. It is reported that Hohn established the formulaic charitable link in order to motivate himself.[5] More recently, in March 2013, TCI announced that it would stop donating to the foundation because it is "large enough." [8]

In 2016, Forbes listed Chris Hohn as one of the 25 Highest-Earning hedge fund managers in 2015. His 2015 total earnings of $250 millions ranks him the 12th among the 25 top earning hedge fund managers.[9]

Hohn was appointed Knight Commander of the Order of St Michael and St George (KCMG) in the 2014 Birthday Honours for services to philanthropy and international development.[10]

Personal life[edit]

He married Jamie Cooper, a fellow Harvard graduate student from Chicago, whom he had met at a party during his studies.[11] Upon marriage, they took each other's surnames to become Cooper-Hohn, although he is still widely known as Hohn. The couple went on to have four children, including triplets.[12]

In 2013 it was reported that Hohn had begun divorce proceedings with his wife.[13] In November 2014, he was set to pay his American-born ex-wife $500m[14] in what is thought to be the biggest divorce settlement ever awarded by an English court.[15] In December 2014, he was ordered to pay his ex-wife £337M. [16]

References[edit]

  1. ^ "Christopher Hohn". Forbes. Retrieved 20 May 2017. 
  2. ^ "Chris Cooper-Hohn". Ciff.org. Archived from the original on 2012-11-06. Retrieved 2012-11-28. 
  3. ^ a b Armitstead, Louise (2011-06-01). "Hedge fund boss Chris Hohn gives away £1bn in five years". The Daily Telegraph. London. 
  4. ^ "THE CHILDREN'S INVESTMENT FUND FOUNDATION (UK)". Companies House. Retrieved 26 April 2016. 
  5. ^ a b c d e f TCI goes where other funds fear to tread - FT.com
  6. ^ "City high-flier is UK's most generous donor". Thisismoney. 29 June 2006. Retrieved 2 March 2015. 
  7. ^ a b c Bloxham, Andy (2008-06-20). "Chris Hohn profile: Britain's biggest charity donor". The Daily Telegraph. London. 
  8. ^ "TCI Enjoys Record Year With 47% Return". FINalternatives. Retrieved 2016-04-28. 
  9. ^ "The Highest-Earning Hedge Fund Managers & Traders". Forbes. Retrieved 2016-11-24. 
  10. ^ "No. 60895". The London Gazette (Supplement). 14 June 2014. p. b4. 
  11. ^ Timmons, Heather (2008-06-26). "The Children’s Investment Fund and Its Nonprofit Twin". NYTimes.com. Retrieved 2012-11-28. 
  12. ^ "Hedge-fund couple Chris Hohn and Jamie Cooper-Hohn on track for Britain’s first billion pound divorce". The Telegraph. 2014-06-18. 
  13. ^ Eden, Richard (2013-10-27). "Royal Mail hedge fund tycoon Chris Hohn posts his divorce papers". The Daily Telegraph. London. 
  14. ^ "Chris Hohn's Activist Hedge Fund Has Big First Half Of 2015". Forbes.com. Retrieved 2016-04-28. 
  15. ^ Croft, Jane (2014-11-28). "Chris Hohn in record-breaking $530m divorce settlement". The Financial Times. London. 
  16. ^ "Sir Chris Hohn ordered to hand over £337m in one of England's biggest divorce cases". The Daily Telegraph. 2014-12-12. Retrieved 2016-04-28.