RIT Capital Partners
A UK-listed investment trust that manages a globally diversified portfolio across public and private markets.
Last updated August 22, 2026
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Overview
RIT Capital Partners plc is a British investment trust with roots in the Rothschild family’s investment activities. It was established in 1961 on the initiative of Jacob Rothschild as Rothschild Investment Trust, originally serving the English branch of the Rothschild family as an investment vehicle separate from the family’s banking business, N M Rothschild & Sons. The trust was intended to provide a way to invest outside the bank and subsequently developed into a broader, internationally oriented investment organisation. The company’s history was shaped by a major break between Jacob Rothschild and Evelyn de Rothschild, then head of N M Rothschild & Sons, in 1980. Following that dispute, the banking house withdrew its investment from Rothschild Investment Trust and the trust was required to stop using the Rothschild name. Jacob Rothschild left the board of N M Rothschild & Sons and assumed sole control of the investment vehicle. The company later expanded through a 1982 acquisition of Great Northern Investment Trust, after which it became known as RIT & Northern. In 1983, RIT & Northern was combined with Charterhouse Japhet. The resulting structure was briefly known as Charterhouse J. Rothschild, while the associated banking business was later sold to the Royal Bank of Scotland in 1985. The investment business was subsequently separated from the banking activities and converted into a publicly traded investment trust in 1988 under the name RIT Capital Partners plc. This structure enabled shareholders to gain exposure to a professionally managed portfolio through a London Stock Exchange-listed vehicle. RIT has pursued a long-term capital-preservation and capital-growth approach, investing across quoted securities and quoted special situations as well as private equity, fixed-income instruments, real estate and other investments where disclosed by the company. A significant element of the organisation’s identity is its London base at Spencer House in St James’s. In December 1986, the company secured a long lease of the historic property, including an additional option, and restored its state rooms and garden. Spencer House has since served as the company’s headquarters and remains closely associated with its heritage and institutional identity. RIT broadened its external investment relationships over time. It joined the World Gold Council in 2010 and, in 2012, acquired a 37 percent interest in Rockefeller Financial Services, linking the trust to another established financial-services group. These steps reflected the organisation’s preference for a diversified, global portfolio rather than concentration in a single asset class or geography. RIT Capital Partners is listed on the London Stock Exchange and has been a constituent of the FTSE 250 Index. Its operating model is that of an investment trust rather than a conventional consumer-facing financial brand: shareholders invest in the listed company, while the company allocates capital among public and private investments. The trust’s portfolio and investment decisions are overseen through its board and executive structure. Jacob Rothschild stepped down as chairman and director in September 2019 but continued as president until his death in 2024. Sir James Leigh-Pemberton became chairman in September 2019. The company remains active as a UK-listed investment trust with a global investment mandate.
History
RIT Capital Partners began in 1961 as Rothschild Investment Trust, created on the initiative of Jacob Rothschild for the English branch of the Rothschild family. Its original role was to manage investments outside N M Rothschild & Sons, the family’s banking house. The arrangement changed substantially in 1980, when a dispute between Jacob Rothschild and Evelyn de Rothschild led the banking house to withdraw its money from the trust and prohibit continued use of the Rothschild name. Jacob Rothschild left the board of N M Rothschild & Sons and took control of the investment vehicle. The trust expanded in the early 1980s. In April 1982 it acquired Great Northern Investment Trust and adopted the name RIT & Northern. In November 1983, RIT & Northern was merged into Charterhouse Japhet. Jacob Rothschild obtained a controlling interest in the combined business, which was briefly known as Charterhouse J. Rothschild. The banking operation, still associated with Charterhouse Japhet, was sold to the Royal Bank of Scotland in 1985, while the investment activities continued along a separate path. The company also established a prominent physical base in London. On 25 December 1986, it secured a 96-year lease on Spencer House, with a further 24-year option. The property’s state rooms and garden were restored to their historic appearance, and Spencer House became the headquarters associated with the investment trust. In 1988, Jacob Rothschild reorganised the remaining investment business as a publicly traded investment trust named RIT Capital Partners plc. The listed structure allowed outside shareholders to participate in a diversified investment portfolio while preserving the trust’s long-term orientation. RIT’s mandate has included quoted securities and quoted special situations, alongside investments in private equity, fixed income, real estate and other global opportunities. The trust developed its international investment profile during the following decades. It joined the World Gold Council in 2010 and in May 2012 bought a 37 percent share in Rockefeller Financial Services. These activities complemented its strategy of investing across asset classes and jurisdictions rather than operating as a narrowly focused equity fund. Jacob Rothschild remained the central figure in the organisation for much of its history. He stepped down as chairman and director in September 2019 but retained the position of president until his death in 2024. Sir James Leigh-Pemberton became chairman in September 2019. RIT Capital Partners remains a London Stock Exchange-listed investment trust and a constituent of the FTSE 250 Index, with Spencer House in St James’s serving as its headquarters.
- 2019
Chairmanship passes to Sir James Leigh-Pemberton
[1]Jacob Rothschild stepped down as chairman and director, and Sir James Leigh-Pemberton became chairman.
- 2012
Investment in Rockefeller Financial Services
[1]The trust acquired a 37 percent interest in Rockefeller Financial Services.
- 2010
Joins the World Gold Council
[1]RIT Capital Partners joined the World Gold Council as part of its broader engagement with global investment markets.
- 1988
Conversion into a listed investment trust
[1]The remaining investment business became a publicly traded investment trust under the name RIT Capital Partners plc.
- 1986
Lease of Spencer House
[1]RIT Capital Partners secured a long lease on Spencer House in London and subsequently restored its principal historic interiors and garden.
- 1985
Sale of the banking business
[1]The banking business associated with Charterhouse Japhet was sold to the Royal Bank of Scotland, leaving the investment activities on a distinct development path.
- 1983
Combination with Charterhouse Japhet
[1]RIT & Northern was merged into Charterhouse Japhet, creating a combined business in which Jacob Rothschild took a controlling stake.
- 1982
Acquisition of Great Northern Investment Trust
[1]The company acquired Great Northern Investment Trust and subsequently operated under the name RIT & Northern.
- 1980
Break with N M Rothschild & Sons
[1]A conflict between Jacob Rothschild and Evelyn de Rothschild led to the withdrawal of the banking house’s investment and the loss of permission to use the Rothschild name.
- 1961
Rothschild Investment Trust is established
[1]Jacob Rothschild initiated the creation of Rothschild Investment Trust to manage investments for the English branch of the Rothschild family outside its banking business.
Products and positioning
A long-term, globally diversified investment trust focused on capital growth and preservation through exposure to public markets, private markets and other asset classes.
Listed investment trust · 1988
RIT Capital Partners plc
The company’s principal offering is its publicly traded investment-trust share. The trust invests shareholder capital across a global portfolio that may include quoted equities, quoted special situations, bonds and other fixed-income assets, private equity, real estate and related investments. Its structure provides investors with a single listed vehicle for diversified exposure, while the portfolio is managed with a long-term emphasis on capital growth and preservation rather than a narrowly defined regional or sector mandate.
Brand decisions
2012
Acquire a minority interest in Rockefeller Financial ServicesM&ABackground
RIT sought to expand its international investment relationships and exposure beyond its existing portfolio activities.
Action taken
RIT Capital Partners acquired a 37 percent share in Rockefeller Financial Services.
Aftermath
The transaction added a strategic minority investment in an established US financial-services business to RIT’s global holdings.
Ownership stake acquired. 37% (May 2012)
1988
Create a publicly traded investment trustStrategyBackground
After the separation of the investment activities from the associated banking business, the remaining organisation required a structure suited to managing a continuing investment portfolio and broadening shareholder participation.
Action taken
Jacob Rothschild transformed the remaining investment business into a publicly traded investment trust named RIT Capital Partners plc.
Aftermath
The listed trust became the enduring corporate structure through which RIT managed a diversified global portfolio and attracted outside shareholders.
Recent events
- 2024
Jacob Rothschild dies after continuing as president of RIT Capital Partners[1]
Leadership change · Other
Jacob Rothschild, who founded the investment trust and remained its president after leaving the chair, died in 2024.
- 2019
Jacob Rothschild steps down as chairman and director[1]
Leadership change
Jacob Rothschild relinquished the chairmanship and board directorship of RIT Capital Partners. He remained president, while Sir James Leigh-Pemberton became chairman.
- 2012
RIT Capital Partners acquires a 37% stake in Rockefeller Financial Services[1]
M&A
RIT Capital Partners, led by Jacob Rothschild, acquired a minority stake in Rockefeller Financial Services, broadening its strategic relationship with the Rockefeller investment business.
Sources2 sources
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