- Prison Planet.com - http://www.prisonplanet.com -
Rothschild Said to Start Fund; Chairman’s Son Joins
Posted By admin On September 2, 2009 @ 3:08 am In Money Watch | Comments Disabled
Jacqueline Simmons and Anne-Sylvaine Chassany
Wednesday, Sept 2, 2009
Rothschild, the largest family-owned bank, plans to raise a 500 million-euro ($711 million) investment fund as chairman David de Rothschild’s son joins the firm, two people familiar with the plan said.
Alexandre de Rothschild, 29, moved to the family bank from Argan Capital, Bank of America Corp.’s former European private equity division, to work on the project, said the people, who declined to be identified before the fundraising is completed. Rothschild Managing Director Marc-Olivier Laurent, 57, will oversee the fund, the people said.
The two-century-old firm, which is run by 66-year-old David de Rothschild, plans to buy minority stakes in closely held companies after the pace of global mergers and acquisitions dropped 46 percent in the past year. The fund’s backers include Rothschild partners and clients. It will target companies valued at 100 million euros to 500 million euros, the people said.
“It’s normal for them to bring in family members to ensure succession,” said Anis Bouayad, founder of Paris-based advisory firm AB Conseils. “The bank has always found a way to promote its own, while also bringing outside talent to the top jobs.”
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/rothschild-said-to-start-fund-chairman%e2%80%99s-son-joins.html
URLs in this post:
 Bloomberg : http://www.bloomberg.com/apps/news?pid=20601087&sid=alFzszWs8eic
 Image: http://prisonplanet.tv/signup.html
 Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault: http://www.prisonplanet.com/lord-rothschild-fund-joins-world-gold-council-to-put-12-5m-into-bullionvault.html
 Rothschild Difference With Madoff Becomes Geneva’s Obsession: http://www.prisonplanet.com/rothschild-difference-with-madoff-becomes-geneva%e2%80%99s-obsession.html
 US hires advisers, Rothschild firm, on auto restructuring: http://www.prisonplanet.com/us-hires-advisers-rothschild-firm-on-auto-restructuring.html
 Baron David de Rothschild: Economic Crisis Will Bring New World Order, Global Governance: http://www.prisonplanet.com/baron-david-de-rothschild-economic-crisis-will-bring-new-world-order-global-governance.html
 Greece Hires Goldman Sachs, Rothschild to Help Economy: http://www.prisonplanet.com/greece-hires-goldman-sachs-rothschild-to-help-economy.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.