RIT Capital Partners
| RIT Capital Partners Plc
|
|
|---|---|
 |
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| legal form | Corporation |
| ISIN | GB0007366395 |
| founding | 1988 by Jacob Rothschild |
| Seat | London , UK |
| management |
|
| Number of employees | 56 |
| Branch | Investment company |
| Website | www.ritcap.co.uk |
| As of June 30, 2019 | |
RIT Capital Partners Plc ( Rothschild Investment Trust ) is a major UK investment company listed on the London Stock Exchange and included in the FTSE 250 Index . As of June 30, 2019, the company had fixed assets of £ 3.045 billion under management .
Company profile
RIT Capital Partners operates internationally and is geared towards long-term growth of its capital . To achieve this goal, the company can in principle invest in all asset classes . However, it primarily acquires shares in listed and privately held companies. Only a small part of the profits generated is distributed in the form of an annual dividend . The rest will be retained .
The chairman of RIT Capital Partners is Jacob Rothschild, 4th Baron Rothschild . He currently holds an 18.26% stake in the company. Further shares lie with members of his family.
RIT Capital Partners is based in St. James's in the neo-classical Spencer House , together with Lancaster House and the nearby Bridgewater House , it is one of the last privately owned palaces in central London. Spencer House is only a few hundred meters from Buckingham Palace , the official residence of the British monarch in London, and can be partially visited.
history
The company was founded in 1961 on the initiative of Lord Jacob Rothschild and was called the Rothschild Investment Trust . It was used by the British branch of the Rothschild family for investments outside of their bank, NM Rothschild & Sons . Under the direction of Lord Jacob Rothschild, the company increased its net asset value ( NAV ) from £ 3 million to almost £ 100 million between 1961 and 1980 .
In 1980 there was a break between Lord Jacob Rothschild and Evelyn de Rothschild , the then head of NM Rothschild & Sons. Since the investment style of Lord Jacob Rothschild was too risky for this, he withdrew the money invested by the bank from the Rothschild Investment Trust and forbade the company to continue to use the Rothschild name. Lord Jacob Rothschild, for his part, withdrew from the bank and, as compensation, received sole control over the Rothschild Investment Trust, which he renamed RIT Ltd. renamed.
In April 1982, RIT took over the Great Northern Investment Trust and was renamed RIT and Northern . In November 1983 the merger with the merchant bank Charterhouse Japhet followed under the name Charterhouse J. Rothschild . But in 1985 the company's banking division (still under the name Charterhouse Japhet) was sold to the Royal Bank of Scotland . The remaining company was called J. Rothschild Holdings .
In 1985, J. Rothschild Holdings received a 120-year lease on the Spencer House city palace . Jacob Rothschild had the building extensively restored, restoring the state rooms and gardens to their original appearance and making it the company's headquarters (later RIT Capital Partners plc.).
In 1988, J. Rothschild Holdings plc. in two companies. The life insurance business went to J. Rothschild Assurance , which later became St. James's Place Capital plc. was renamed. Lord Jacob Rothschild transformed the remainder of the asset management division into a listed investment trust called "RIT Capital Partners plc." around. Since then, under the direction of Lord Jacob Rothschild, the Company's Net Asset Value has increased from £ 280.5 million to a net asset value of £ 3.045 billion as of June 30, 2019.
On May 30, 2012, RIT Capital Partners announced the acquisition of a 37% stake previously held by Société Générale Private Banking in Rockefeller Financial Service, Inc., the parent company of the David Rockefeller family, as part of a future strategic cooperation Investment and asset management group Rockefeller & Co., Inc. The parties have agreed not to disclose the purchase price. The alliance was established by the 76-year-old Jacob Rothschild and the 96-year-old David Rockefeller, who had personal contacts for more than 50 years. With the acquisition, RIT Capital Partners Plc gained the long-desired entry into the US market.
Individual evidence
- ^ RIT Capital Partners Board
- ↑ team
- ↑ Rit Capital Partners half-year report as of June 30, 2019
- ↑ Directors' shareholdings
- ↑ Paul Ferris: "The Billion Cartel - Power and Influence of World Bankers", ECON Verlag, Düsseldorf / Vienna 1986, p. 46ff, ISBN 3-430-12722-X
- ↑ Camilla to visit Spencer house. In: BBC. November 26, 1998, accessed April 16, 2017 : "... who holds a 120-year lease on the house"
- ↑ CHS Rentals: RIT Capital Partners plc - Annual Report and Accounts 31 March 2002 , access date: April 16, 2017
- ↑ Rothschild and Rockefeller cooperate , at www.private-banking-magazin.de , accessed on June 20, 2019