Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

Rothschild backs 'alternative' lender as bank funding runs dry

by Sarah Miloudi on Dec 10, 2012 at 07:36

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 here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

Sponsored Video: Barings on investing in Frontier Markets

From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the shares

  • RIT Capital Partners PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet