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Advisory profits halve at London Stock Exchange hedge fund agitator TCI

The activist hedge fund at the centre of the London Stock Exchange boardroom row has seen annual adv..

By admin , in Money , at December 5, 2017

The activist hedge fund at the centre of the London Stock Exchange boardroom row has seen annual advisory profits halve.

Children's Investment Fund arm TCI Advisory Services LLP posted profits of $35.3m (£26.3m) earlier this week. The partnership made $71.3m in the 12 months to February 2016.

The 10 members of the firm were paid $124.9m, of which the highest paid member – believed to TCI founder Sir Christopher Hohn – netted $45.3m. Some $196.6m was paid to TCI's top member in 2016.

Hohn is not listed specifically as one of the 10 members, though TCI Fund Holdings Limited, one of three designated members, is. It is Hohn that signs off the accounts on its behalf.

Read more: Activist shareholder Hohn requests meeting to remove LSE chairman

Charitable donations made by TCI Advisory fell from $222,361 in 2016 to zero in 2017.

The profit fall comes as Hohn's hedge fund ramps up the pressure on the London Stock Exchange, a company which it holds a five per cent stake in.

TCI has attacked LSE board over the exit of former boss Xavier Rolet, demanding a shareholder meeting to vote on chairman Donald Brydon's future.

Read more: Activist funds steps up bid to block €8.5bn deal… and now it's personal

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