RIT Capital Partners plc revealed in its annual report that it has sold out of all of its investments in activist hedge fund manager Atticus Capital. The partnership had held approximately $58 million in Atticus as of March 2008.
RIT Capital is headed by its Chairman Lord Rothschild who began his career at NM Rothschild & Sons, where he subsequently ran the corporate finance department and became chairman of the executive committee. From 1980 he formed RIT plc, a forerunner of RIT Capital Partners plc.
Not coincidently, Lord Rothschild’s 37 year-old son, Nathaniel Rothschild, is both a Co-Chairman of Atticus Capital and a Non-Executive Director at RIT Capital. According to the article, Atticus’ asset under management have fallen from a peak of $20 billion to around $6 billion.
RIT Capital Partners plc is an investment trust that is listed on the London Stock Exchange. It invests in a widely diversified, international portfolio across a range of asset classes, both quoted and unquoted. As of 3/31/09, RIT Capital’s assets stood at approximately $2,200 million down from $2,754 as of 3/31/08.
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