28th November 2014
The wife of a hedge fund multi-millionaire has won a £337 million pay out after a divorce battle in the High Court.
Hedge fund manager Chris Hohn and his American wife Jamie Cooper-Hohn went to court over assets said to be worth £700 million and the £337 million award to Cooper-Hohn is thought to be the largest of its kind made by a judge in England.
Although the hearing was private, Justice Roberts said that the outcome could be reported, although details of the dispute have not been made public. Both Hohn and Cooper-Hohn attended the hearing but neither has commented.
It is thought that Cooper-Hohn has sought half of their assets but Hohn offered a quarter on the basis that he had made a special contribution to their wealth throughout their 17 year marriage.
The pair founded the Children’s Investment Trust Foundation which aims to change the lives of poor and vulnerable children living in developing countries.The couple were well known for their philanthropy and it is estimated that they have given away £1 billion through the trust.
Hohn, the son of a mechanic and legal secretary, is also well-known for his shareholder activism and has previously demanded ABN Amro was split up and has lobbied the boards of EADS and Deutsche Borse against making acquisitions.