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'''Jeremy John Hosking''' (born 20 July 1958) is a British businessman and political donor. He made his fortune through investment and [[private equity]], including as a co-founder and investment [[portfolio manager]] for private investment fund Marathon Asset Management. He donated £1.7 million to [[Vote Leave]] in 2016 and supported pro-Brexit candidates in the [[2017 United Kingdom general election|2017 general election]]. Hosking is a large collector of [[steam locomotives]], and a shareholder of [[Crystal Palace F.C.]] He was ranked number 351 in the [[Sunday Times Rich List|''Sunday Times'' Rich List]] in 2019, with a net worth of £375 million.<ref>{{cite news|url=https://www.thetimes.co.uk/article/sunday-times-rich-list-2019-profiles-351-399-queen-elton-john-david-beckham-tfs5wbck9|title=Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham|date=12 May 2019|website=The Sunday Times|accessdate=25 May 2019|issn=0140-0460}}</ref> |
'''Jeremy John Hosking''' (born 20 July 1958) is a British businessman and political donor. He made his fortune through investment and [[private equity]], including as a co-founder and investment [[portfolio manager]] for private investment fund Marathon Asset Management. He donated £1.7 million to [[Vote Leave]] in 2016 and supported pro-Brexit candidates in the [[2017 United Kingdom general election|2017 general election]]. Hosking is a large collector of [[steam locomotives]], and a shareholder of [[Crystal Palace F.C.]] He was ranked number 351 in the [[Sunday Times Rich List|''Sunday Times'' Rich List]] in 2019, with a net worth of £375 million.<ref>{{cite news|url=https://www.thetimes.co.uk/article/sunday-times-rich-list-2019-profiles-351-399-queen-elton-john-david-beckham-tfs5wbck9|title=Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham|date=12 May 2019|website=The Sunday Times|accessdate=25 May 2019|issn=0140-0460}}</ref> |
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==Early life== |
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Jeremy Hosking was born on 20 July 1958. He graduated from the [[University of Cambridge]] in 1979.{{Citation needed|date=February 2019}} |
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==Career== |
==Career== |
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===Marathon=== |
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Hosking first worked for [[LGT Group|G.T. Management PLC]] in Hong Kong and the United States. |
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In 1986, Hosking co-founded Marathon Asset Management LLP in London (this is a London-based privately owned, equity focused investment firm; it has nothing to do with the similarly named [[Marathon Asset Management]] LP, the $12.8 billion New York City firm specializing in distressed debt), with Neil Ostrer and William Arah. Hosking led investment in [[South East Asia]], the Americas and South Africa. Hosking has written various papers on investment and corporate governance, including "South East Asia: Eighteen Reasons to be Bearish" in August 1995. |
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===Hosking & Co.=== |
===Hosking & Co.=== |
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⚫ | In late 2012, Hosking set up Dublin-listed asset manager Hosking & Co.<ref>{{cite web|url=http://www.hoskingpartners.com/|title=Hosking Partners LLP|last=hosking}}</ref> In October 2016 a judge has upheld a £10.4 million ruling on appeal claim made by Marathon Asset Management against Hosking. The company accused Hosking of breaching "contractual and fiduciary duties" while working there because he discussed plans for a new business with other employees. Hosking was made to pay £1.38 million in damages, and a further £10.4 million – half of the profits Hosking received for the period between mid-July and mid-December 2012 – in 2015. That was subject to an appeal in which Hosking argued profit shares could not be forfeited, but this was dismissed by the judge.<ref>{{cite news|url=http://citywire.co.uk/new-model-adviser/news/judge-upholds-fund-giants-10-4m-legal-claim-against-co-founder/a955338|title=Judge upholds fund giant's £10.4m legal claim against co-founder|first=Selin|last=Bucak|work=Citywire|date=5 October 2016}}</ref> |
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Hosking separated from Marathon in 2012, stating his intent to retire. In late 2012, Hosking set up Dublin-listed asset manager Hosking & Co.<ref>{{cite web|url=http://www.hoskingpartners.com/|title=Hosking Partners LLP|last=hosking}}</ref> |
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⚫ | In October 2016 a judge has upheld a £10.4 million ruling on appeal claim made by Marathon Asset Management against Hosking. The company accused Hosking of breaching "contractual and fiduciary duties" while working there because he discussed plans for a new business with other employees. Hosking was made to pay £1.38 million in damages, and a further £10.4 million – half of the profits Hosking received for the period between mid-July and mid-December 2012 – in 2015. That was subject to an appeal in which Hosking argued profit shares could not be forfeited, but this was dismissed by the judge.<ref>{{cite news|url=http://citywire.co.uk/new-model-adviser/news/judge-upholds-fund-giants-10-4m-legal-claim-against-co-founder/a955338|title=Judge upholds fund giant's £10.4m legal claim against co-founder|first=Selin|last=Bucak|work=Citywire|date=5 October 2016}}</ref> |
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===Private investments=== |
===Private investments=== |
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==Political activity== |
==Political activity== |
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In December 2009, Hosking donated £30,000 for funding research support, to Conservative MP [[David Davis (British politician)|David Davis]].<ref>{{cite web|url=https://www.theyworkforyou.com/mp/david_davis/haltemprice_and_howden|title=David Davis|publisher=TheyWorkForYou.com|accessdate=11 January 2011}}</ref> Hosking donated £100,000 to the [[Conservative Party (UK)|Conservative Party]] in the [[2015 United Kingdom general election|2015 general election]].<ref name="theguardianmillionairebrexitdonor">{{cite news|last1=Savage|first1=Michael|title=Millionaire Brexit donor targets 140 remain MPs in general election|url=https://www.theguardian.com/politics/2017/may/13/millionaire-brexit-donor-targets-remain-mps|accessdate=14 May 2017|work=The Guardian|date=13 May 2017}}</ref> |
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Hosking donated £1.7 million to [[Vote Leave]] in the [[2016 United Kingdom European Union membership referendum|Brexit referendum]] of 2016.<ref name="theguardianmillionairebrexitdonor"/> In the [[2017 United Kingdom general election|2017 general election]], he gave £350,000 to pro-Brexit Conservative candidates.<ref name="theguardianmillionairebrexitdonor"/><ref>{{Cite news|last=Meddings|first=Sabah|title=Brexiteer investment tycoon Jeremy Hosking lands slice of £153m|language=en|url=https://www.thetimes.co.uk/article/brexiteer-investment-tycoon-jeremy-hosking-lands-slice-of-153m-3qbxms3xg|access-date=2020-08-03|issn=0140-0460}}</ref> |
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In February 2019 Hosking submitted the paperwork to found a new party called ''Brexit Express'', which would welcome Tory MPs unhappy with the Prime Minister's Brexit plans. At the same time, he launched a public campaign in favour of a no-deal Brexit.<ref>{{Cite news|url=https://www.theguardian.com/politics/2019/feb/17/no-deal-brexiters-tory-split-conservative-multimillionaire-donor-new-party|title=No-dealers dig in for a fresh battle amid fears of Tory split|last=Savage|first=Michael|date=17 February 2019|work=The Observer|access-date=17 February 2019|issn=0029-7712}}</ref> |
In February 2019 Hosking submitted the paperwork to found a new party called ''Brexit Express'', which would welcome Tory MPs unhappy with the Prime Minister's Brexit plans. At the same time, he launched a public campaign in favour of a no-deal Brexit.<ref>{{Cite news|url=https://www.theguardian.com/politics/2019/feb/17/no-deal-brexiters-tory-split-conservative-multimillionaire-donor-new-party|title=No-dealers dig in for a fresh battle amid fears of Tory split|last=Savage|first=Michael|date=17 February 2019|work=The Observer|access-date=17 February 2019|issn=0029-7712}}</ref> |
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On 11 May 2019, ''The Guardian'' reported that Hosking had donated £200,000 to the [[Brexit Party]].<ref>{{Cite news|url=https://www.theguardian.com/politics/2019/may/11/tory-donor-jeremy-hosking-200000-nigel-farage-brexit-party|title=Tory donor gives £200,000 to Nigel Farage's Brexit party|last=Busby|first=Mattha|date=11 May 2019|work=The Guardian|access-date=15 May 2019|issn=0261-3077}}</ref> |
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==Railways== |
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Hosking owns a number of steam locomotives and three diesel locomotives, a number of which are operated by [[Locomotive Services Limited]] which is also under his control. He also founded the [[Royal Scot Locomotive and General Trust]], originally to purchase [[LMS Royal Scot Class 6100 Royal Scot|6100 ''Royal Scot'']]. The trust now owns a number of steam locomotives and operates workshops at {{rws|Crewe}}. In 2016, Hosking purchased a one-third stake in the [[Dartmouth Steam Railway]] plc which operates the Paignton to Dartmouth heritage line in [[Devon]].<ref>Steam Raiwlay, page 10, September 2016</ref><ref>{{cite web|url=https://beta.companieshouse.gov.uk/company/05237785/persons-with-significant-control|title=Locomotive Services Limited|website=Companies House|access-date=19 June 2019|archive-url=https://web.archive.org/web/20190619050458/https://beta.companieshouse.gov.uk/company/05237785/persons-with-significant-control|archive-date=19 June 2019}}</ref> |
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==Personal life== |
==Personal life== |
Revision as of 01:02, 8 October 2020
Jeremy Hosking | |
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Born | 20 July 1958 |
Nationality | British |
Alma mater | University of Cambridge |
Occupation | Businessman |
Known for | Co-founder Marathon Asset Management |
Political party | Conservative Party Vote Leave Brexit Party |
Spouse | Elizabeth Ann Karslake (married 1993) |
Jeremy John Hosking (born 20 July 1958) is a British businessman and political donor. He made his fortune through investment and private equity, including as a co-founder and investment portfolio manager for private investment fund Marathon Asset Management. He donated £1.7 million to Vote Leave in 2016 and supported pro-Brexit candidates in the 2017 general election. Hosking is a large collector of steam locomotives, and a shareholder of Crystal Palace F.C. He was ranked number 351 in the Sunday Times Rich List in 2019, with a net worth of £375 million.[1]
Career
Hosking & Co.
In late 2012, Hosking set up Dublin-listed asset manager Hosking & Co.[2] In October 2016 a judge has upheld a £10.4 million ruling on appeal claim made by Marathon Asset Management against Hosking. The company accused Hosking of breaching "contractual and fiduciary duties" while working there because he discussed plans for a new business with other employees. Hosking was made to pay £1.38 million in damages, and a further £10.4 million – half of the profits Hosking received for the period between mid-July and mid-December 2012 – in 2015. That was subject to an appeal in which Hosking argued profit shares could not be forfeited, but this was dismissed by the judge.[3]
Private investments
In March 2010, Hosking bought the West Sussex country house hotel, the Gravetye Manor, out of administration.[4]
In August 2010, Hosking was part of a four-man consortium which bought Selhurst Park, and then residents Crystal Palace football club out of administration, via the limited company CPFC 2010.[5] On 18 December 2015, it was announced that American investors Josh Harris and David Blitzer had bought a major share holding in the club.[6] Whilst Steve Parish continued as chairman alongside Harris and Blitzer, fellow CPFC 2010 investors Browett, Long and Hosking each retained a reduced 8% investment.[7]
Political activity
In February 2019 Hosking submitted the paperwork to found a new party called Brexit Express, which would welcome Tory MPs unhappy with the Prime Minister's Brexit plans. At the same time, he launched a public campaign in favour of a no-deal Brexit.[8]
Personal life
Hosking married Elizabeth Ann Karslake in 1993.[9]
References
- ^ "Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham". The Sunday Times. 12 May 2019. ISSN 0140-0460. Retrieved 25 May 2019.
- ^ hosking. "Hosking Partners LLP".
- ^ Bucak, Selin (5 October 2016). "Judge upholds fund giant's £10.4m legal claim against co-founder". Citywire.
- ^ "Hosking stokes up luxury hotel purchase". The Times. 2 March 2010. Retrieved 11 January 2011.
- ^ "Long live Crystal Palace" Archived 1 February 2011 at the Wayback Machine, Daniel Jones, This is Croydon Today
- ^ "Crystal Palace: Deal agreed with US investors Harris and Blitzer". BBC Sport. 18 December 2015. Retrieved 19 December 2015.
- ^ "Investment Deal Is Signed". Crystal Palace F.C. 18 December 2015. Retrieved 19 December 2015.
- ^ Savage, Michael (17 February 2019). "No-dealers dig in for a fresh battle amid fears of Tory split". The Observer. ISSN 0029-7712. Retrieved 17 February 2019.
- ^ "Person Page". thepeerage.com.