The Children's Investment Fund

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The Children's Investment Fund
Founded 2003
Headquarters London
Web site http://www.ciff.org/content/view/31/52/

The Children's Investment Fund (TCI) is a hedge fund. It manages The Children’s Investment Master Fund. The Children's Investment Fund Foundation (CIFF) is focused on improving the lives of children living in poverty primarily in Sub Saharan Africa and India [1]and receives a portion of TCI’s profits and other donations. The entity is an example of venture philanthropy.

TCI and fellow hedge fund Atticus Capital jointly control around 19 percent of the voting rights in the Deutsche Boerse. In October of 2008, TCI wrote a letter seeking the removal of Deutsche Boerse chairman Kurt Viermetz. TCI and Atticus had previously threatened to call for boardroom changes if Deutsche Boerse didn't urgently consider ways to increase shareholder value. TCI was also strongly opposed to a proposed merger with the London Stock Exchange (LSE) played a part in the departure of then-CEO Werner Seifert in 2005 when the deal collapsed.[2]Within weeks, Viermetz announced he would step down.[3]

In October of 2007, TCI, which at the time owned 17.8 million shares, or approximately 4.1 percent, of CSX Corporation sent a letter to the CSX Board of Directors urging it to act immediately and voluntarily to improve CSX’s corporate governance and business performance.[4]

History

Products and Services

Membership

Key People

References

  1. About CIFF. CIFF.
  2. Hedge Fund Demands Deutsche Boerse Chairman's Head. MarketWatch.
  3. Deutsche Boerse Chairman Steps Down Early. Telegraph.
  4. Press Release. BusinessWire.