| Thu 17 Feb 2011, 8:00 | | REI - Reinet Investments S.C.A. Depositary Receipts - Reinet to participate |
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REI
REI
REI - Reinet Investments S.C.A. Depositary Receipts - Reinet to participate
with RIT in the establishment by Mr William T. Winters of Renshaw Bay, a
global alternative asset management and advisory firm
Reinet Investments S.C.A. Depositary Receipts
issued by Reinet Securities SA
(Incorporated in Switzerland)
ISIN: CH0045793657
Depositary Receipt Code: REI
PRESS RELEASE FOR IMMEDIATE RELEASE
17 FEBRUARY 2011
REINET TO PARTICIPATE WITH RIT IN THE ESTABLISHMENT BY MR WILLIAM T. WINTERS
OF RENSHAW BAY, A GLOBAL ALTERNATIVE ASSET MANAGEMENT AND ADVISORY FIRM
The Directors of Reinet Investments Manager S.A., acting on behalf of Reinet
Investments S.C.A., are pleased to announce that the company, through its
subsidiary Reinet Fund S.C.A. F.I.S., has entered into a preliminary agreement
with Mr. William T. Winters and RIT Capital Partners plc for the establishment
of Renshaw Bay, a new global alternative asset management and advisory
company.
The following press release was issued by Mr. Winters on behalf of Renshaw Bay
in London this morning.
Quote
Bill Winters to Establish Renshaw Bay, a Global Alternative Asset Management
and Advisory firm, in Partnership with Lord Rothschild`s RIT and Mr Johann
Rupert`s Reinet
Bill Winters, formerly the Co-Chief Executive of JP Morgan Investment Bank,
has teamed up with RIT Capital Partners plc, chaired by Lord (Jacob)
Rothschild and Reinet Investments S.C.A., chaired by Mr Johann Rupert, to set
up a new global alternative asset management and advisory company, Renshaw
Bay. Mr Winters will become Chairman and Chief Executive, with Lord
Rothschild and Mr Rupert joining as Directors.
Mr Winters will initially own 50 per cent of the business, with the balance
equally owned by RIT, the London-listed investment trust, and by Reinet, the
Luxembourg-listed investment vehicle. The business will work with
sophisticated investors to develop their risk parameters, investments and
trading vehicles. It will work with established funds and new investment
companies to craft investments that are suitable for its investor clients.
Bill Winters, RIT and Reinet each intend to invest substantial capital in
these funds and investment vehicles. The business may also seek to build out
or acquire its own investment management capabilities. The business, which is
currently being established, intends to apply for FSA authorisation.
Commenting on today`s announcement, Bill Winters, Chairman and Chief
Executive, said:
"I am delighted to welcome RIT and Reinet as founding shareholders in the
business and thank Jacob Rothschild and Johann Rupert for the confidence they
have shown in me and our business model. Our objective is to build a global
alternative asset management and advisory business that provides outstanding
and differentiated investment opportunities for our founding shareholders as
well as other sophisticated investors who value our strong focus on risk
management and alignment between investors and investment managers."
Lord Rothschild, Chairman of RIT added, "Bill Winters has proven to be among a
handful of truly exceptional leaders in the global finance community and we
are delighted to be able to support the launch of his new asset management and
advisory platform. We very much look forward to working together to create a
successful global business."
Mr Rupert, Chairman of Reinet Investments S.C.A., said:
"I have come to know Bill well. He has an exceptional track record and I am
delighted to be working with him on the development of what I am sure will be
an outstanding asset management firm."
The business will co-operate closely with RIT and Lord Rothschild`s family
investment activities, as well as with Reinet.
In parallel with this announcement, Lord Rothschild is pleased to confirm that
Bill Winters has agreed to become a Non-Executive Director of RIT Capital
Partners plc following the establishment of the business.
Unquote
Reinet Enquiries Renshaw Bay Enquiries
Mr Eloy Michotte Kevin Byram/Gill Ackers
+352 22 7252 +44 (0)20 7404 5959
Executive Director Brunswick Group LLP -
renshawbay@brunswickgroup.com
Website: www.reinet.com
Notes for editors
About Bill Winters
Bill Winters was Co-Chief Executive Officer of the investment bank of JP
Morgan Chase & Co and a member of the firm`s Executive and Operating
Committees. He previously managed JP Morgan`s Global Markets Division after
having worked in various corporate finance and markets areas of JP Morgan.
Winters is a member of the UK`s Independent Commission on Banking, set up in
2010 to make recommendations to the Government on the structure of the banking
industry in the UK. The Commission is due to make its final recommendations in
September 2011.
Winters received an MBA from the Wharton School at the University of
Pennsylvania and a Bachelors degree in International Relations from Colgate
University. He is a member of the Boards of the International Rescue
Committee, the Young Vic Theatre and is Chairman of the Board of The Print
Room.
About Reinet
Reinet Investments S.C.A. (the `Company`) is a partnership limited by shares
incorporated in the Grand Duchy of Luxembourg and having its registered office
at 35, boulevard Prince Henri, L-1724 Luxembourg. It is governed by the
Luxembourg law on securitisation and in this capacity allows its shareholders
to participate indirectly in the portfolio of assets held by its wholly-owned
subsidiary Reinet Fund S.C.A., F.I.S. (the `Fund`), a specialised investment
fund also incorporated in Luxembourg. Reinet shares are listed on the
Luxembourg Stock Exchange and Reinet South African Depository Receipts are
listed in Johannesburg. Reinet shares are included in the `LuxX` index of the
principal shares traded on the Luxembourg exchange and the South African
Depository Receipts are included in the JSE `Top 40` Share Index.
Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.
Reinet Investments S.C.A.
Registered office: 35, Boulevard Prince Henri, L-1724 Luxembourg
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 17/02/2011 08:00:18 Produced by the JSE SENS Department.
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