One of the most famous names in finance, Rothschild, is planning to raise a $711 million investment fund as it welcomes chairman David de Rothschild’s son to the firm.
by George White
Sources tell Bloomberg that the private bank’s investment vehicle will buy minority stakes in closely held companies, valued at €100 million to €500 million ($142 million to $711 million), with fundraising expected to be completed by year’s end. Marc-Olivier Laurent, Emmanuel Roth and Javed Khan, who came over from the Blackstone Group (NYSE:BX) in June, will manage the new fund.
Also coming aboard to help with the fund is Alexandre de Rothschild, David de Rothschild’s son, entering the family business from European leveraged buyout shop Argan Capital.
Rothschild is marketing the new vehicle as fundraising for private equity is once again starting to pick up. Over the past two months, U.S. private equity firms put more than $11 billion under management; while other firms are targeting another $10 billion.
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