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Two of the best-known business dynasties in Europe and the US will come together after Lord Jacob Rothschild’s listed investment trust and Rockefeller Financial Services agreed to form a strategic partnership.
RIT Capital Partners is to buy a 37 per cent stake in the Rockefeller’s wealth advisory and asset management group for an undisclosed sum, giving Lord Rothschild’s London-listed trust a much sought-after foothold in the US.
The partnership with RIT will focus on setting up investment funds, eyeing joint acquisitions of wealth and asset managers and granting each other non-executive directorships.
RIT Capital Partners is minority-owned by Lord Rothschild and its net assets of £1.9bn are spread across global investments from public equities to government bonds and private equity.
Originally posted by silent thunder
Let's file this one under "things that make you go, "hmmmm."