Schroders has acquired a 49% stake in RWC Partners, the future destination of the group's former income fund managers Nick Purves and Ian Lance.
The group says the 49% stake in RWC represents a financial investment by Schroders and was acquired mainly from existing third party, individual shareholders.
RWC will remain a separate legal entity and will continue to be managed by the existing management team. It had gross assets of approximately £10m as at the date of completion of the transaction.
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