RIT Capital Partners Makes Investment in Corsair Capital

LONDON and NEW YORK, July 19, 2012

This investment is consistent with RIT's strategy of identifying and investing in high quality asset managers, enabling close collaboration on investment opportunities, and sharing of expertise.  

Lord Rothschild, Chairman of RIT, said, "We are pleased to make this investment in Corsair, a firm that has a clear investment philosophy and approach to investing globally in the financial services industry. We see considerable potential to work closely together on new investment opportunities in this sector that will benefit both businesses."

Nicholas B. Paumgarten, Chairman of Corsair Capital, commented, "We are delighted to welcome RIT as a direct long-term investor in Corsair. Corsair's management has developed a strong global network of industry and governmental contacts which assists the firm with its investment business, and we will enhance those advantages as a result of our relationship with RIT. Our team will continue to focus its efforts on working with our portfolio companies to support the design and implementation of their strategic business plans, and identifying new investments for Corsair."

Subject to the completion of the transaction, RIT proposes to issue such number of new ordinary shares in RIT as is equivalent to US$7,500,000 (the "Shares"), as part consideration for RIT's acquisition of the stake in Corsair.

An application for the admission of the Shares to the Official List of the UK Listing Authority and for admission to trading on the Main Market of the London Stock Exchange is expected to be made shortly. An announcement in accordance with LR 3.2.7 confirming the admission of the Shares will follow in due course.

ABOUT RIT