Schroders Buys Minority Stake In Hedge Fund RWC

Jun 22 2010 | 12:34pm ET

Meet the new bosses, Nick Purves and Ian Lance. Same as the old bosses, in this case, as the two fund managers saw their old employer, Schroders, buy almost half of their new employer, hedge fund RWC Partners.

Schroders has bought a 49% stake in the London-based hedge fund, two months after Purves and Lance, its top managers, defected to RWC. The two men have not even started at their new jobs, where they will manage a portfolio similar to the one they managed at Schroders, but were given the option to veto the Schroders deal, Reuters reports.

“They’re totally supportive of it,” RWC CEO Peter Harrison said.

RWC will remain a separately-run company, and its current management team will remain in place.

Financial terms of the deal were not disclosed, and the agreement does not include a commitment on behalf of Schroders to buy a majority stake in the future.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR