Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

RWC completes boutique buy

RWC completes boutique buy

RWC Partners has completed its acquisition of investment boutique Pensato Capital.

The acquisition of the firm set up by former Fidelity European fund manager Graham Clapp (pictured) will bring $280 million (£216 million) of client assets across to RWC, taking its total assets under management to $12 billion.

Clapp had spent 22 years at Fidelity where he managed the €25 billion (£22 billion) European Growth fund, prior to setting up the business in 2008.

Edward Rumble and Russell Champion, who worked with Clapp at Fidelity, are senior members of the seven-person investment team which will move across from Pensato to RWC.

At RWC, Clapp’s team will continue to manage three funds: the Europa fund, a long/short Cayman-domiciled fundamentally driven European equity fund; the Europa Absolute Return fund, a long/short Ucits vehicle managed on a pari passu basis to the Europa Fund; and the European Equity fund, a long-only Cayman-domiciled fund.

Two years ago, RWC hired an emerging and frontier markets equity team, including John Malloy and James Johnstone, who now manage around $3 billion on behalf of its clients.

Dan Mannix, chief executive officer, RWC, said: ‘Graham and his team offer a world class European equity capability in long-only and long-short strategies.  It’s a privilege to have the opportunity to work with such a respected team and we are excited that Graham chose RWC as the home for the next stage of development for his team. 

‘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.’

Clapp added: ‘RWC is set up to provide its investment teams with the support and resources they require in order to concentrate on the delivery of outperformance for investors, and it was clear from our early conversations with Dan that its model was suited to us and the way we want to operate and manage money in the years to come.’

The Pensato Europa Absolute Return fund over the last three years has underperformed its peer group achieving an 8.3% return in a sector where the average fund returned 11.9%.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Graham Clapp
Graham Clapp
59/76 in Alternative UCITS - Long/Short Equity (Performance over 3 years) Average Total Return: -3.66%
Edward Rumble
Edward Rumble
57/76 in Alternative UCITS - Long/Short Equity (Performance over 3 years) Average Total Return: -3.05%
John Malloy
John Malloy
4/252 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 78.54%
Citywire TV
Play Citywire 20: Investec's du Toit on managing the 'jerk factor'

Citywire 20: Investec's du Toit on managing the 'jerk factor'

Investec boss Hendrik du Toit believes he has become far more decisive over the last 20 years, especially when it comes to managing 'jerk' factor.

Play Citywire 20: Hugh Young's bleak lesson

Citywire 20: Hugh Young's bleak lesson

In the latest video to mark Citywire's 20th birthday, Aberdeen Standard Investments Asia head reminisces about one of the toughest periods in his career.

Play IWD 2019 video: fund and wealth figures define diversity

IWD 2019 video: fund and wealth figures define diversity

To mark International Women's Day, we have spoken to a variety of top fund houses and wealth managers about their definition of diversity, and how they hope to achieve a more inclusive workplace.

Read More
Wealth Manager on Twitter