Rothschild and Rockefeller join forces

Two of the Anglo-saxon investment world’s most famous dynasties have formed a strategic partnership to pursue investment opportunities together and share expertise.

RIT Capital Partners, an LSE-listed investment fund chaired and part-owned by Lord Rothschild, has bought a sizeable stake in Rockefeller Financial Services (RFS) as part of a deal which will see the two groups collaborate on deals and share expertise.

David Rockefeller

RIT, which manages about £1.9 billion in assets, bought a 37 percent stake in RFS owned by Société Générale Private Banking. As part of the deal, RIT and RFS have agreed to “collaborate on investment solutions and other areas of shared expertise to further serve the needs of clients and investors”.

David Rockefeller, honorary director and retired chairman of Rockefeller & Co, said in a statement: “Lord Rothschild and I have known each other for five decades.  The connection between our two families remains very strong.  I am delighted to welcome Jacob and RIT as shareholders and partners in the ongoing development of our investment management and wealth advisory businesses.”

Lord Jacob Rothschild

Earlier this year, Edmond de Rothschild Group and Lord Rothschild’s family office became shareholders in RIT. Baroness Ariane de Rothschild became honorary vice chairman of RIT, with Lord Rothschild becoming honorary vice chairman of the French holding company of Edmond de Rothschild Group.

Lord Rothschild, chairman of RIT, said of the deal with Rockefeller: “We are delighted at the prospect of bringing together these two entities in a long-term partnership.  Like so many across the world, I have watched the development of Rockefeller & Co with great admiration.  The creation of this partnership with the Rockefeller family is truly historic.  We look forward to the development of our joint investment activities across the global capital markets.”