The Children's Investment Fund Foundation, a charity supported by UK asset manager TCI, has increased its funds to £802m (€1bn), passing George Soros's Open Society Institute to become the largest hedge fund-backed charity.

The charity increased its funds from £362m at the end of August 2006 to £802m a year later, according to the financial statements of The Children's Investment Fund Foundation (UK) for the year ended 31 August 2007, which have just been published at the UK's Companies House.