RIT launches joint venture with Edmond de Rothschild Group

RIT Capital, the £1.9bn investment trust founded and chaired by Lord Jacob Rothschild, has announced the creation of a strategic partnership with international asset manager Edmond de Rothschild Group.

The agreement will see the groups create a new company, in which RIT will hold 49% of the capital, with the majority 51% interest held by Edmond de Rothschild Group. Edmond de Rothschild Group, chaired by Baron Benjamin de Rothschild, will contribute its stake in the management of Capital Holdings - a business unit with assets under management of $2.7bn that includes fund of hedge funds Leveraged Capital Holdings - to the joint venture. RIT, meanwhile, will issue 1,128,000 ordinary shares, market value £14m as at the close of trading on 14 March, to Edmond de Rothschild Group as part ...