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.

RIT Capital head of private equity to depart

RIT Capital head of private equity to depart

Wealth Manager can reveal that Graham Thomas, head of private investments at RIT Capital Partners, is to leave the £2.3 billion trust.

Thomas joined RIT in 2011 from Standard Bank Group, where he had been head of private equity.

At the time of the Citywire Selection fund’s most recent update in November 2013, RIT’s portfolio had a 12% direct allocation to unquoted investments with a further 13% in private equity funds.

One of the recent stars of RIT’s private equity holdings has been Dropbox. The company was valued at around £2.5 billion in 2011, when RIT first bought a stake worth approximately £16 million. This was valued at £16.5 million by RIT on 30 June 2013.

Dropbox’s latest fundraising round this week valued the business at almost £6 billion, and analysts at Numis have tipped that to be ‘positive’ for RIT Capital’s valuation.

Over the past three years RIT’s otherwise defensive stance, with significant investments in gold for example, have left its relative performance lagging. On a net asset value basis the trust has returned 19.5% through the period, compared with 28.5% from the FTSE World index.

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