Children’s Fund gets 6.7 per cent of Spanish airport operator Aena

Ollie Gordon
TCI is run by British hedge fund manager Chris Hohn
The Children’s Investment Fund Management (TCI) took a 6.7 per cent stake in Spanish airport operator Aena in the company’s listing last week, stock market data revealed yesterday.

The move sees TCI, run by British hedge fund manager and philanthropist Sir Christopher Hohn, become the Aena’s second largest investor after the Spanish government, which holds 51 per cent of the company.

At €3.88bn (£2.85bn), Aena’s flotation became Europe’s largest since commodity trader Glencore raised €7.1bn in 2011, and has been seen as a vote of confidence for Spain’s rekindling economy.

Aena shares closed up 2.63 per cent yesterday to €76.87 on the news, a 32 per cent premium on the firm’s offer price of €58.

The British investment specialist is the only would-be key investor to acquire a substantial stake in the Spanish firm after the float price was raised on the back of heavy demand.

Aena is the world’s largest airport operator by passenger numbers.