RIT Capital tie up with Strategic Equity Capital

RIT Capital has announced that it is buying GVO Investment Management (GVOIM), the investment manager for Strategic Equity Capital (SEC) and is also taking a stake in that fund.

The announcement says GVOIM will continue to operate as a separate legal entity with the same autonomous management team, structure and investment process. Stuart Widdowson and Jeff Harris will continue as manager and assistant manager respectively to the Company. Their roles and responsibilities will remain unchanged.

The vendor of both investments is Hansa Aktiengesellschaft. GVO Investment Management also manages the GVO UK Focus Fund (a Dublin listed OEIC). the dal needs to be signed off by the regulators and, subject to that, is expected to complete in Q1 2015. No indication has been given of the price RIT is paying.

RCP : RIT Capital tie up with Strategic Equity Capital

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