Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BlackRock hedge fund lifts Rathbones stake above 3%

BlackRock hedge fund lifts Rathbones stake above 3%

The BlackRock UK Emerging Companies hedge fund has lifted its stake in Rathbones to beyond 3%.

The fund, which is managed by Richard Plackett (pictured) and Ralph Cox, bought 117,807 shares in the firm on 4 January, accounting for a 0.26% stake.

This interest sits alongside the 1,276,046 contracts for difference (CFDS) the fund holds and increases the total position to 3.02%. 

The move comes after a busy 2012 for Rathbones in which it made a number of acquisitions, starting with the purchase of London-based wealth manager RM Walkden & Co in April and concluding with the £10 million acquisition of Taylor Young Investment Management's wealth business in November.

To facilitate the Taylor Young deal Rathbones raised £24.7 million through a placing and intends to use a significant portion of these proceeds to fund further acquisitions.    

Moving into the afternoon session shares in Rathbones were trading at £13.34, a gain of 7p on the day.

Leave a comment
Citywire TV
Play BlackRock UK Special Sits: when will we sell our star holdings?

BlackRock UK Special Sits: when will we sell our star holdings?

What would prompt Roland Arnold to sell the likes of Ashtead and Howden?

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: how Matthew Butcher is carving a new role at Dart Capital

Profile: how Matthew Butcher is carving a new role at Dart Capital

The wealth management industry is undergoing a profound period of change: whether it wants to admit it or not.

Wealth Manager on Twitter