Brocker.Org: A $14.5 billion hedge fund is crushing it

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Getty Images/ Peter Macdiarmid

The Children’s
Investment Fund
, a $14.5 billion hedge fund based in London,
has gotten off to a strong start to the year.

The fund returned 10.7% in the first quarter, according to an
investment letter reviewed by Business Insider, ahead of the 6.4%
return on the MSCI World index. 

The fund is run by Chris Hohn, and has delivered north of
750% since its 2003 inception. It describes itself as
value-oriented manager, and it typically takes a number of
long-term positions.

Hohn also cofounded 
the Children’s Investment Fund Foundation, an
endowment that now has around $4.6 billion in assets, back in
2004. 

All but one of the TCI’s 10 biggest bets paid off in the first
quarter, with big positions in Charter
Communications
, Aena, Airbus and Syngenta all delivering
double-digit returns. The fund made a $425 million return on
Charter alone. 

The letter highlighted the potential for Charter to be acquired
by Verizon, noting recent reporting on a potential deal. The
letter said that while Charter “may not be affordable for
Verizon,” the “industrial logic for a combination is more
compelling than ever, given the competitive and industrial
dynamics in the wireless sector.”

TCI did not return messages and calls seeking
comment. 

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