Winters, Lord Rothschild to launch Renshaw Bay

http://www.ftadviser.com/2011/10/25/investments/winters-lord-rothschild-to-launch-renshaw-bay-uRZXrGyFDRZVIg6LbxBiPO/article.html

Winters, Lord Rothschild to launch Renshaw Bay

Former JP Morgan co-chief executive Bill Winters has unveiled an alternative asset management and advice venture with Lord Rothschild, targeting the UK's wealthy investors.

By Marc Shoffman | Published Feb 24, 2011

According to a statement, Mr Winters will become chairman and chief executive of Renshaw Bay, which once approved by the FSA intends to provide alternative asset management and advice.

He will have a 50 per cent stake in the business, according to a stock exchange announcement, with the rest split equally between investment trust RIT Capital Partners, chaired by Lord Rothschild, and Luxembourg investment vehicle Reinet Investments.

The announcement from RIT Capital Partners, said: "The business will work with sophisticated investors to develop their risk parameters, investments and trading vehicles.

"It will work with established funds and new investment companies to craft investments that are suitable for its investor clients.

"Bill Winters, RIT and Reinet each intend to invest substantial capital in these funds and investment vehicles. The business may also seek to build out or acquire its own investment management capabilities."

Mr Winters said: "Our objective is to build a global alternative asset management and advisory business that provides outstanding and differentiated investment opportunities for our founding shareholders, as well as other sophisticated investors who value our strong focus on risk management and alignment between investors and investment managers."

Lord Rothschild, who is also a member of the Independent Commission on Banking, said: "Mr Winters has proven to be among a handful of truly exceptional leaders in the global finance community and we support the launch of his asset management and advisory platform. We look forward to working together to create a successful global business."

Mr Winters has also agreed to become a non-executive director of RIT Capital Partners following the establishment of the business, Lord Rothschild said.

http://www.ftadviser.com/2011/10/25/investments/winters-lord-rothschild-to-launch-renshaw-bay-uRZXrGyFDRZVIg6LbxBiPO/article.html