Rothschild to invest in Rockefeller, say reports

The Rothschild banking dynasty has agreed to invest in the Rockefeller group’s wealth advisory and asset management business to form a strategic partnership, the Financial Times reported on Wednesday.

Rothschild’s RIT Capital Partners will purchase a 37 percent stake in the Rockefeller business for an undisclosed sum, the newspaper said in an unsourced report.

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The partnership will focus on setting up investment funds, eyeing joint acquisitions of wealth and asset managers and granting each other non-executive directorships, it said.

The coming together of two of the best known business dynasties in the Europe and the United States will give the London-listed Rothschild trust a much sought-after U.S. foothold.

The transatlantic union brings together David Rockefeller, 96, and Lord Rothschild, 76 - two family patriarchs whose personal relationship spans five decades, according to the FT.