RIT Capital Partners, the investment trusted started by Lord Jacob Rothschild, has made a long-term investment in private equity firm Corsair in return for a minority investment.
The company said the investment is part of its strategy of identifying and investing in high quality asset managers, enabling close collaboration on investment opportunities, and sharing of expertise.
RIT will issue a number of new shares in the company equal to $7.5m as partial payment for the acquisition.
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Lord Rothschild, Chairman of RIT, commented: "We are pleased to make this investment in Corsair, a firm that has a clear investment philosophy and approach to investing globally in the financial services industry. We see considerable potential to work closely together on new investment opportunities in this sector that will benefit both businesses."
RIT's share price rose 0.16% to 1,255p by 09:12.
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