RWC Partners, a UK-based investment manager partly owned by Schroders, has completed the acquisition of investment firm Pensato Capital.
The deal adds $280m in assets to RWC’s books, taking its total assets under management to around $12bn.
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The companies did not disclose the financial terms of the transaction, which was announced in July 2017.
London-based Pensato was founded by Graham Clapp, who previously was a fund manager at Fidelity. He was joined at Pensato by ex-Fidelity colleagues Edward Rumble and Russell Champion.
Rumble, Champion, and Clapp are among the seven-member investment team that has joined RWC as part of the deal. The team will continue to manage Pensato’s funds under the RWC banner that includes a long / short Cayman domiciled European equity fund, a European absolute return fund, a long/short Ucits vehicle, and a long-only Cayman domiciled fund.
RWC CEO Dan Mannix said: “We see real opportunity for active managers in European equities and we believe Graham’s energy, experience and talent make him one of the outstanding people in the asset class.”
