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.

Rothschild backs 'alternative' lender as bank funding runs dry

Rothschild backs 'alternative' lender as bank funding runs dry

Lord Jacob Rothschild's RIT Capital Partners has taken a position in a peer-to-peer lender aimed at helping its clients avoid dealing with banks.

Lord Rothschild's RIT now owns a stake in Zopa, according to reports, which it bought into in the hope it will be able to grab share in a tight credit market dominated by traditional lenders.

Zopa, which is based in the UK, allows clients to lend to one another over the internet.

'Following the 2008 crisis many of the banks remain under-capitalised.  In these circumstances alternative forms of credit will be developed on significant scale...this is happening,' Lord Rothschild (pictured) said, speaking to the Financial Times.

The size of RIT's stake in Zopa is not known, as the trust bought into it via Augmentum Capital, a technology fund in which £1.8 billion RIT is the only investor.

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 Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter