TCI, owned by Chris Horn, has provided a loan of $636 million to an Italian hotel.

The Financial Times of the UK reported, citing a letter to investors that it had seen, that Christopher Hohn's hedge fund TCI has provided a total of $636 million in loans to several ultra-luxury hotels in Italy. The largest exposure in this sector for TCI is a $392 million loan to the landmark Hotel Danieli in Venice. TCI also holds several loan shares: a $132 million loan to the Caesar Augustus Hotel on Capri, a $74 million loan to the Six Senses Hotel on Lake Como, and a $38 million loan to the Mandarin Oriental Hotel in Milan. As of June 30, Hohn's fund had a year-to-date return of 3.5%. Its portfolio of investments in infrastructure, aerospace, payment services, and technology stocks has remained largely unchanged.