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 listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...

and is a constituent of the FTSE 250 Index. Lord Rothschild has been president and Sir James Leigh-Pemberton chairman since September 2019.

History

In 1961, the company was founded, on the initiative of

Jacob Rothschild Nathaniel Charles Jacob Rothschild, 4th Baron Rothschild, (born 29 April 1936) is a British peer, investment banker and a member of the Rothschild banking family. Now mostly retired, he has held many important roles in business, finance an ...

, to serve the English branch of the family Rothschild for investments outside their bank

N M Rothschild & Sons Rothschild & Co is a multinational investment bank and financial services company, and the flagship of the Rothschild banking group controlled by the French and British branches of the Rothschild family. The banking business of the firm covers th ...

: it was named "Rothschild Investment Trust". 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."

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. Jacob Rothschild then sold the banking business, still known as Charterhouse Japhet, to the Royal Bank of Scotland in 1985. On 25 December 1986, RIT Capital Partners secured a 96-year lease (with an additional 24-year option) of the Spencer House in London. In 1988, Jacob Rothschild transformed the remaining investment business into a publicly traded investment trust with the name "RIT Capital Partners plc." In 2010, RIT Capital Partner joined the

World Gold Council The World Gold Council is the market development organisation for the gold industry. It works across all parts of the industry, from gold mining to investment, with the aim of stimulating and sustaining demand for gold. They frequently publish ...

. In May 2012, RIT Capital Partners, led by

, bought a 37% share in Rockefeller Financial Services (

David Rockefeller David Rockefeller (June 12, 1915 – March 20, 2017) was an American investment banker who served as chairman and chief executive of Chase Manhattan Corporation. He was the oldest living member of the third generation of the Rockefeller family, ...

). In September 2019, Lord Rothschild stepped down as chairman and director of RIT Capital Partner, but remained president of the investment trust.

Operations

RIT Capital Partners has its headquarters in

Spencer House Spencer House may refer to: * Spencer House, Westminster, Greater London, England United States * Spencer House (Hartford, Connecticut), listed on the National Register of Historic Places (NRHP) in Hartford County * Spencer House in Columbus, Ge ...

, ( 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.

Notable persons

Jonathan Kestenbaum, Baron Kestenbaum use both this parameter and , birth_date to display the person's date of birth, date of death, and age at death) --> , death_place = , death_cause = , body_discovered = , resting_place = , resting_place_coordinates ...

(born 1959), chief operating officer of investment trust RIT Capital Partners, and a Labour member of the

House of Lords The House of Lords, also known as the House of Peers, is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons, it meets in the Palace of Westminste ...

References

External links

RIT Capital Partners PlcSpencer House
{{DEFAULTSORT:Rit Capital Partners Investment trusts of the United Kingdom * 1961 establishments in England