The British fund The Children’s Investment Fund (TCI) and its founder Chris Hohn have each reduced their stake in Aena by two tenths. According to the records of the National Securities Market Commission (CNMV), TCI has reduced its capital in the airport operator from 3.6% to 3.41%, while the billionaire Hohn goes from 6.57% to 6 .35% This reduction in the shareholding has occurred through derivatives in TCI, which means that this reduction has occurred through the liquidation or derivatives that it had at the maturity of its ‘hedg fund’.
Crish Hohn’s share package consists of 4.4 million shares indirectly and the TCI fund has 5.1 million titles, in this case equity swaps, with expiration dates between 2023 and 2025. At current market prices, the participation of TCI and Hohn is valued at 716 million euros and 617 million euros, respectively, according to the 140 euros at which Aena is listed.
Adding the two stakes in the capital of Aena, its presence increases to 9.76%, being its second largest shareholder, only behind Enaire (51%). Among the other shareholders, Blackrock (3.07%) and Veritas Asset Management (3.02%) stand out.
The fund is managed by its founder, Christopher Hohn, a British billionaire who appears in position 273 on the list. In addition, the TCI representative left Aena’s board of directors a year ago, where he had been a member since 2015, to Spend more time managing funds.
His departure occurred at the same time that he has increased his presence in the shareholding of Ferrovial, of which he has recently exceeded the threshold of 6% since he broke into the shareholding of the firm in May 2019. His share portfolio consists of 47.7 million of shares of the firm through financial instruments, in this case ‘equity swaps’ with expiration dates between 2023 and 2025. those listed by Ferrovial.