The parent company of Rockefeller & Co., a 130-year-old wealth management firm founded by John D. Rockefeller in part to manage his own family’s wealth, has partnered with RIT Capital Partners plc in a minority equity deal.

Based in New York, Rockefeller & Co. has an office in Boston.

Under terms of the agreement, RIT – a London-listed investment trust chaired by Lord (Jacob) Rothschild – will acquire a 37 percent equity interest in Rockefeller previously held by Societe Generale Private Banking. In a statement, the firms said they intend to collaborate on investment solutions and other areas of shared expertise to further serve the needs of their clients and investors.

“Lord Rothschild and I have known each other for five decades,” David Rockefeller, honorary director and retired chairman of Rockefeller & Co., said in a statement. “The connection between our two families remains very strong. I am delighted to welcome Jacob and RIT as shareholders and partners in the ongoing development of our investment management and wealth advisory businesses.”

In March, RIT announced a partnership with Edmond de Rothschild Group (“EdR”) through which EdR becomes shareholders in RIT alongside Lord Rothschild’s family interests.

The transaction is subject to regulatory approval and expected to close by the end of September. Financial terms were not disclosed.

Rockefellers Partner With Rothschilds In Wealth Management Deal

by Banker & Tradesman time to read: 1 min
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