View the article online at http://citywire.co.uk/wealth-manager/article/a408884
Schroders buys major stake in RWC Partners
by Atholl Simpson on Jun 22, 2010 at 13:51
Schroders has announced it has acquired 49% of the share capital of asset management firm RWC Partners Limited.
The large stake was acquired through one of its subsidiaries and came mainly from existing third party stocks and individual shareholders. RWC will remain a separate legal entity and will continue to be managed by the existing management team.
Peter Harrison, RWC's CEO said: 'We believe that this is an extremely positive for RWC Partners. In Schroders we have gained a highly respected and knowledgeable shareholder who has recognised the strength of the RWC business.
'We have made no secret of our desire to bring in a high quality, minority shareholder to replace the early backers of the business, and are delighted to have reached agreement with Schroders. Full control of the business rests with the management of RWC and our strategy remains unchanged. RWC will operate autonomously without any changes to the structure of any existing arrangements.'
Harrison also has previous history with Schroders, having worked there as an analyst for three years earlier in his career.
At the date of completion of the transaction, RWC had gross business assets of approximately £10 million and its total assets under management are just over €2 billion.
News sponsored by:
Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.
Today's top headlines
More about this:
Look up the fund managers
More from us
- Former JPMorgan star Ajay Gambhir to launch Newcits fund
- Why did top Schroders duo join RWC Partners?
- Schroders AAA-rated income duo Purves and Lance to join RWC
- Jupiter hires former RWC duo Geldard and Manzi
- Schroders duo
- Newcits launch
On the road
by Himanshu Singh on Apr 19, 2014 at 05:21