Investec may sell Rensburg fund management unit
SOUTH African group Investec, which recently completed an all-share £412m takeover of Rensburg Sheppards, is was looking into the potential sale of the stockbroking and investment management firm’s fund management subsidiary.
Investec said it had received a number of expressions of interest from organisations potentially looking to acquire Rensburg Fund Management (RFM).
Investec has appointed Fenchurch Advisory Partners to advise on strategic options for RFM.
Investec said today in a statement: “As part of the strategic review, Fenchurch will assess and test the appetite from third parties for acquiring RFM through a structured process.
“Fenchurch will also consider the prospects for the continued growth of the business under its existing ownership structure.
“There can be no certainty that this strategic review will result in a transaction or an offer being made for RFM. However, any transaction would have regard to the best interests of all stakeholders of RFM, including its clients and employees.”
Rensburg Sheppards was founded by Henry Rensburg in Liverpool in 1873, before merging in the 1970s with long-standing Yorkshire firm BWD. The current business was created in 2005 with the acquisition of Carr Sheppards Crosthwaite.
It has offices in Leeds, Sheffield, the North West and Scotland.
