Two interesting stories today: a big profile of Nathan Rothschild in the NYT, saying that his buy-side activities might make him the richeset Rothschild ever:
In five short years, the man in line to be the fifth Baron Rothschild is close to becoming a billionaire through a web of private equity investments in Ukraine, Eastern Europe and most significant, his partnership stake in Atticus Capital, the fast-growing $14 billion hedge fund.
Meanwhile, Nathan’s father is making similar bets:
Lord Rothschild, the veteran City figure who is part of the banking dynasty, has agreed to back Darwin Private Equity, a new ß£250m private equity group founded this year by a trio of youngprofessionals from CVCCapital and Permira.
RIT Capital Partners, the publicly traded investment trust that is 17 per cent- owned by Lord Rothschild, will take a “significant minority” stake as well as making a ß£50m cornerstone investment in its maiden fund of up to ß£250m.
And, notes the FT, the other branch of the (English) Rothschilds is also heavily involved in private equity: Sir Evelyn de Rothschild and his wife own private equity shop EL Rothschild.
Meanwhile, NM Rothschild, the bank, has a new rival, known as JNR, which is owned by the 35-year-old Nathan Rothschild, and, according to the NYT, “run by a small crew of investment bankers”. But JNR isn’t an advisory shop like NMR; rather, it looks very much like a gussied-up investment firm. Why make millions on fees when you can make billions in investments?