RIT Capital Partners

RIT Capital Partners plc, formerly Rothschild Investment Trust, is a large British investment trust dedicated to investments in quoted securities and quoted special situations. Established in 1961, the company is a list on London Stock Exchange and the FTSE 250 Index. The Chairman is Lord Rothschild.[1]

RIT Capital Partners plc
TypePublic limited company
LSE: RCP
Founded1961
FounderJacob Rothschild, 4th Baron Rothschild
Headquarters
London
,
UK
Key people
Number of employees
78
Websitewww.ritcap.co.uk

History

In 1961, the company was founded, on the initiative of Jacob Rothschild, to serve the English branch of the family Rothschild for investments outside their bank N M Rothschild & Sons: it was named "Rothschild Investment Trust".[2] In 1980, there was a conflict between Jacob Rothschild and Evelyn de Rothschild, then the head of N M Rothschild & Sons. Evelyn de Rothschild withdrew the money invested in the banking house of Rothschild Investment Trust and forbade the company to continue using the name Rothschild. Jacob Rothschild left the Board of N M Rothschild & Sons and took sole control of the Rothschild Investment Trust. In April 1982 the company bought the "Great Northern Investment Trust" and was subsequently renamed "RIT & Northern."[3]

In November 1983, Jacob Rothschild merged RIT & Northern into Charterhouse Japhet and took a controlling stake in the combined business which was briefly known as Charterhouse J. Rothschild.[3] Jacob Rothschild then sold the banking business, still known as Charterhouse Japhet, to the Royal Bank of Scotland in 1985.[4] In 1988, Jacob Rothschild transformed the remaining investment business into a publicly traded investment trust with the name "RIT Capital Partners plc." In May 2012, RIT Capital Partners, led by Jacob Rothschild, bought a 37% share in Rockefeller Financial Services (David Rockefeller).[5]

Operations

RIT Capital Partners has its headquarters in Spencer House, ( St James's, London, England ), one of the last surviving city palaces in London (next door to Bridgewater House, one of the others). Due to the initiative of Lord Rothschild, in 1985 RIT Capital Partners plc purchased a 96-year lease (with an additional 24-year option) of the house and restored the state rooms and garden to their original appearance.[6]

References
  1. Werdigier, Julia (10 December 2012). "RIT Capital to Take Stake in British Financial Start-Up". New York Times (DealBook). New York, N.Y., United States. The New York Times Company. Retrieved 9 March 2017.
  2. RIT Capital Partners: great trust, but too popular? Citywire, 2 December 2011
  3. "Rothschild merger in Britain". New York Times. 4 November 1983. Retrieved 14 April 2017.
  4. "European dreams: Charterhouse Bank". The Economist. 13 February 1993. Archived from the original on 14 April 2017. Retrieved 13 April 2017.
  5. Charlie Rose: David Rockefeller and Jacob Rothschild’s Business Deal Created a Historic Legacy, Vanity Fair, 25 March 2015
  6. Spencer House Archived 2013-03-26 at the Wayback Machine
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