Chris Hohn
Strategic Concepts & Mechanics
Primary Evidence
"The first large bet was made in conjunction with TCI, a London-based asset manager led by Chris Hohn and known for a number of activist incursions, namely ABN Amro Bank and the Deutsche Borse. 3G and TCI both acquired a large stake in CSX, an American railroad company, and pressed for aggressive changes in the company’s management. They were partially backed by Behring’s experience in ALL, Brazil’s largest railroad operator. After CSX, 3G raised a new fund enabling it to announce the take-private of Burger King in 2010. The fast-food chain was then held by private equity funds run by the Texas Pacific Group, Bain Capital, and Goldman Sachs, who’d purchased the company from Diageo in 2002. The group was having trouble running it, especially after the 2008 recession. The buyout valued BK at $3.3 billion (plus $700 million in debts), or nine times earnings. The disbursement was levered roughly one-to-one, which added around $1.7 billion of takeover debt on top of the existing $700 million. Bernardo Hees,"
"But the problem in a place like New York or London is that there are always so many people who are doing better than you. My office didn’t have gleaming floor-to-ceiling windows or panoramic views of the Manhattan skyline. I couldn’t match the elegance of Chris Hohn’s offices in Mayfair, London’s hedge fund epicenter. My beautiful home on one of the Upper West Side’s loveliest streets lacked Bill Ackman’s leafy views of Central Park."