Disclaimer

This website does not constitute or form part of any offer to issue or sell, or any solicitation of an offer to subscribe or purchase any investment; nor shall it or the fact of its availability form the basis of, or be relied on in connection with, any contract therefore. This information is directed only at: (i) certain persons having professional experience relating to investments; and (ii) certain high net worth organisations, each as set out under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. No other person will be permitted to invest in the Fund.

The statements herein are qualified in their entirety by any applicable offering memorandum which, together with applicable organisational and subscription documents, should be read carefully before any investment is made. An investment in the Fund is suitable only from sophisticated investors and represents a speculative and illiquid investment entailing a high degree of risk.

All content on this site is issued by TCI Fund Management Ltd. and is for private circulation only. Distribution of this information to any person other than the person to whom this information was originally delivered and to such person’s advisors is unauthorised and any reproduction of these materials, in whole or in part, or the divulgence of any of their contents, without the prior consent of TCI Fund Management Ltd. in each such instance is prohibited. Notwithstanding anything to the contrary herein, each shareholder (and each employee, representative, or other agent of such shareholder) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of (i) The Children’s Investment Master Fund and (ii) any of its transactions, and all materials of any kind (including opinions or other tax analyses) that are provided to the shareholder relating to such tax treatment and tax structure.

All content is communicated by TCI Fund Management Ltd. only to persons to whom it may lawfully be issued under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 including persons who are authorised under the Financial Services and Markets Act 2000 of the United Kingdom (the “Act”), certain persons having professional experience in matters relating to investments, high net worth companies, high net worth unincorporated associations and partnerships, trustees of high value trusts and persons who qualify as certified sophisticated investors. This document is exempt from the prohibition in Section 21 of the Act on the communication by persons not authorised under the Act of invitations or inducements to engage in investment activity on the ground that it is being issued only to such types of person. Investing in financial markets and securities involves risk.

You acknowledge and agree that TCI Fund Management Limited may record certain telephone conversations and other communication; this may be without the use of a warning or warning tone. You agree that such records may be used as evidence in the event of dispute or investigation and shall be admissible as evidence in any legal proceedings, to the fullest extent permissible by applicable law. You agree to use reasonable endeavours to notify relevant staff and contractors that the other party may record telephone calls with them and procure that they consent to their conversations and other communications being recorded.

IMPORTANT INFORMATION FOR SWISS INVESTORS 

The Children’s Investment Fund (the “Fund”) was incorporated in the Cayman Islands. Documents contained on this website may only be distributed in or from Switzerland to qualified investors within the meaning of Art. 10 para. 3, 3bis and 3ter CISA. The representative in Switzerland is ACOLIN Fund Services AG, Leutschenbachstrasse 50, CH-8050 Zurich, whilst the paying agent in Switzerland is Banque Cantonale de Genève 17, quai de l’Ile, 1204 Geneva, Switzerland. In respect of the shares in the Fund distributed in or from Switzerland, the place of performance and jurisdiction is at the registered office of the Swiss representative. The basic documents of the Fund as well as the semi-annual and annual report may be obtained free of charge at the registered office of the Swiss representative. Investors domiciled or with a registered address in Switzerland are not permitted to (directly) invest in any other (third party) collective investment schemes disclosed in the documents contained on this website for which no representative and paying agent in Switzerland have been appointed, including, without limitation, The Children’s Investment Fund LP and The Children’s Investment Master Fund. TCI Real Estate Partners I Funds and TCI Real Estate Partners II Funds are now closed and therefore not available to new investments. Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units.

IMPORTANT INFORMATION FOR ISRAELI INVESTORS 

The shares offered by The Children's Investment Fund (the “Fund”) have not been registered and are not expected to be registered under the Israeli Securities Law — 1968 (the “Securities Law”) or under the Israeli Joint Investment Trust Law – 1994 due to applicable exemptions.  Accordingly, the shares will only be offered and sold in Israel pursuant to applicable private placement exemptions, including but not limited to parties that qualify as both (i) "Sophisticated Investors" described in Section 15A(b)(1) of the Securities Law; and (ii) as “Qualified Customers" for purposes of Section 3(a)(11) of the Law for the Regulation of Provision of Investment Advice, Marketing Investments and Portfolio Management – 1995 (the "Investment Advisor Law").  The Fund and TCI Fund Management Limited are not licensed investment marketers under the Investment Advisor Law and do not maintain insurance as required under such law.  The Fund and TCI Fund Management Limited may be deemed to be providing investment marketing services but are not an investment advisor for purposes of the Investment Advisor Law.  Neither the Fund nor the Investment Manager provide any ongoing investment marketing or investment advisory services.  If any Israeli visitor to this website is not qualified as described above, such party should promptly refrain from viewing any of the materials on the website.  As an Israeli investor accessing materials provided on this website you are hereby confirming that you qualify as both a Sophisticated Investor and Qualified Customer, fully understand the ramifications thereof and agreed to be treated as such by the Fund and the Investment Manager.

IMPORTANT INFORMATION FOR ISRAELI INVESTORS - REP III

The shares offered by TCI Real Estate Partners Fund III Limited (the “Fund”) have not been registered and are not expected to be registered under the Israeli Securities Law — 1968 (the “Securities Law”) or under the Israeli Joint Investment Trust Law – 1994 due to applicable exemptions.  Accordingly, the shares will only be offered and sold in Israel pursuant to applicable private placement exemptions, including but not limited to parties that qualify as both (i) "Sophisticated Investors" described in Section 15A(b)(1) of the Securities Law; and (ii) as “Qualified Customers" for purposes of Section 3(a)(11) of the Law for the Regulation of Provision of Investment Advice, Marketing Investments and Portfolio Management – 1995 (the “Investment Advisor Law”).  The Fund and TCI Fund Management Limited (the “Investment Manager”) are not licensed investment marketers under the Investment Advisor Law and do not maintain insurance as required under such law.  The Fund and the Investment Manager may be deemed to be providing investment marketing services but are not an investment advisor for purposes of the Investment Advisor Law.  Neither the Fund nor the Investment Manager provide any ongoing investment marketing or investment advisory services.  If any Israeli visitor to this website is not qualified as described above, such party should promptly refrain from viewing any of the materials on the website.  As an Israeli investor accessing materials provided on this website you are hereby confirming that you qualify as both a Sophisticated Investor and Qualified Customer, fully understand the ramifications thereof and agreed to be treated as such by the Fund and the Investment Manager.