TCO Hedge Fund Sold Entire Viacom Stake in First Quarter

Children’s Investment Fund Management UK LLP, the London-based hedge fund run by Christopher Cooper- Hohn, sold its entire stake in Viacom (VIAB) Inc. in the first quarter.

TCI sold 4.3 million shares valued at $194.5 million as of March 31, according to a filing today with the U.S. Securities and Commission. The stake in the New York-based media company was TCI’s third-biggest U.S. holding at the end of 2011.

Viacom, which owns the MTV and Nickelodeon cable channels, rose 4.5 percent in the first quarter after gaining 17 percent in the last three months of 2011. Other hedge funds that sold Viacom shares this year include Eric Mindich’s Eton Park Capital Management LP, which reduced its stake by 59 percent to 4.5 million shares.

TCI officials didn’t immediately return a phone call seeking comment.

Cooper-Hohn started TCI in 2003, which earmarks a portion of the fees it receives from clients to the Children’s Investment Fund Foundation. The foundation is a charity run by his wife, Jaime.

TCI’s biggest U.S. holding remains News Corp. (NWSA), the media company run by Rupert Murdoch that has been embroiled in a phone-hacking scandal. TCI owned 50 million shares valued $985 million as of March 31, down from 51.6 million shares at the end of 2011.

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