New York Times – ON June 13 at the Pierre Hotel in Manhattan, the Children’s Investment Fund, known as TCI, a large hedge fund in London, welcomed a particularly high-profile speaker: former President Bill Clinton.
But Mr. Clinton was not speaking exclusively about the fund, whose 23 percent net returns through September make it a darling of institutions and wealthy families flocking to hedge fund investing. Instead, he focused on the Children’s Investment Fund Foundation, TCI’s charitable arm, which is financed by a portion of the fund’s fees.
TCI and its foundation were started in 2004 by Christopher Hohn, a British money manager. Today, the fund has more than $9 billion. The foundation, which has offices in New York and London, had $66 million at the end of last year and distributed more than $2.3 million to international health and development causes, according to its 2005 United States tax returns. Recipients included the International Rescue Committee and many H.I.V.– and AIDS-related projects.
