Investec considers Rensburg Fund Management sale
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Investec is considering the sale of Rensburg Fund Management after receiving a number of enquiries about the firm.
Having received a number of expressions of interest for the firm the board of Investec has appointed Fenchurch Advisory Partners to advise on strategic options for RFM, which include the sales of the firm as well the considered growth of the business under its current ownership. Investec said that there is no certainty the strategic review will result in a transaction.
Rensburg Fund Management currently has six funds in the UK space and £855m worth of retail funds under management at the end of May 2010. Leading managers at the firm include Colin Morton, Paul Spencer and Mark Hall.
Investec agreed to buy Rensburg Sheppards in £412m deal earlier this year. The deal was completed on June 25, 2010.
Rensburg Fund Management joint chief executive Alex Brotherston says: “Clearly this review will address the prospects for the continued development of the business within the existing framework as well as the potential for it to grow under new ownership.
“The senior management and fund management teams work together very closely and are committed to ensuring that it will be ‘business as usual’ whilst the review is underway. Announcements will be made as soon as practicable thereafter.
“Importantly, the teams have backed the review from the outset and will be wholly involved in the process. We shall of course be giving full consideration to the best interests of all our stakeholders, including clients, advisers and employees.
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