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June 26, 2008

Married Couple Run Related Hedge Fund and Charity

Christopher Cooper-Hohn manages the Children’s Investment Fund, which donates some of its profits to help underprivileged children worldwide via the Children’s Investment Fund Foundation, which his wife, Jamie, leads, reports The New York Times.

The couple have become the most generous philanthropists in Britain through the hedge fund’s and the charity’s unusual fee structures. Both were established in 2003, with the requirement that investors pay a 1-percent fee to the fund and a 0.5-percent fee to the foundation; if the hedge fund does well — with a return of more than 11 percent — investors pay the foundation another 0.5 percent.

The Children’s Investment Fund Foundation earned $856-million in the 2007 fiscal year, reflecting major contributions from the hedge fund and the couple themselves. The foundation’s total funds in Britain are about $1.6-billion, and it has a smaller U.S. presence worth about $156-million.

The charity worked with Bill Clinton’s foundation to reduce HIV-drug prices for children in a public-housing project and has done extensive work to help children and families affected by the disease in India. One of the foundation’s next major projects is to work with the Bill & Melinda Gates Foundation to promote enriched food in countries where malnutrition is common.

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