THIS HEDGE FUND BOSS JUST GOT $1 MILLION A DAY IN PAY

TCI Fund Management paid more than $360 million in dividends to two directors of the firm in the 12 months through February, according to a filing to Companies House in the U.K.

Almost all of the money was received by founder Christopher Hohn, according to a person with knowledge of the matter, who asked not to be identified as the information is private. The directors did not receive a dividend payout the previous year, according to the filing. A spokesman for the London-based firm declined to comment.

The firm made pretax profit of $273.3 million in the period, compared with $178.6 million a year earlier, the filing shows.

Hohn is best known for activist bets, buying stakes in companies and then pressuring management to make changes to boost the share price. He is currently engaged in a fierce battle to oust London Stock Exchange Group Plc’s Chairman Donald Brydon, who plans to stay until 2019. Hohn is persisting even after Bank of England Governor Mark Carney voiced frustration with the management tussle at the 216-year-old stock market.

TCI Fund Management is a unit of Hohn’s The Children’s Investment Fund Management (Cayman) Ltd. Another group company, TCI Fund Holdings, paid $54.4 million in compensation to key management last year compared with $231.5 million a year earlier, according to a separate filing.

Source: Bloomberg

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