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
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: from managing Brunei’s billions to Dorking’s pension pots

Profile: from managing Brunei’s billions to Dorking’s pension pots

Mole Valley Asset Management's boss on why he chucked in multi-billion mandates for Surrey wealth management

Wealth Manager on Twitter