RAB Rakes In Profits, AUM in ‘06

Jan 18 2007 | 11:15am ET

U.K.-based RAB Capital Group nearly doubled up on its profits and assets under management last year, according to its unaudited estimates.

RAB’s 2006 pre-tax profits are expected to exceed £50 million (US$98.2 million), up 95% from £25.6 million for 2005. “After an excellent opening four months, trading in 2006 became more challenging during the summer period, but conditions improved significantly in the fourth quarter,” according to the firm.

“Overall performance for the year was generally strong among RAB’s leading investment strategies. RAB now has a diverse range of absolute return strategies, including two multi-strategy, and 10 single-strategy vehicles with assets of over $100 million.”

The firm’s assets under management at the end of December were US$5.18 billion, an increase of 98% compared to the $2.62 billion reported for Dec. 31, 2005. “Net asset inflows, strong in the first half, were somewhat slower thereafter but revived in the final quarter and included a long term allocation of US$200 million by Mittal family trusts to RAB Special Situations,” the firm stated. “Northwest Investment Management, acquired in September, made a small positive contribution to group earnings.”

RAB Capital was founded in 1999, and floated on London’s Alternative Investment Market in March 2004. The firm has 12 absolute return strategies with assets in excess of $100 million and also manages the AIM-listed RAB Special Situations Company.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...