The Children’s Investment Fund (TCI), the big British hedge fund with a reputation for shaking up management, is stirring Hong Kong’s stock market by taking hefty stakes in three of its propertyfirms.
The innocuously-named fund claimed the scalps of the chairman and chief executive of German exchange Deutsche Boerse in May with a campaign for clearer corporate governance. Dealers say it is now targeting underperforming assets in Hong Kong.
Hong Kong, where most big companies are controlled by families or the mainland Chinese government, has no track record of minority shareholder activism.
