Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter