RWC Partners, a UK-based investment manager partly owned by Schroders, has agreed to purchase investment management firm Pensato Capital for an undisclosed sum.
London-based Pensato was founded in 2008 by former Fidelity fund manager Graham Clapp. The firm oversaw around $280m in long/short as well as long-only equity funds.
Clapp previously had a 22-year stint at Fidelity, prior to setting up Pensato. During his tenure at the firm, Clapp ran the firm’s €25bn European Growth fund. He was joined at Pensato by Edward Rumble and Russell Champion, who worked alongside Clapp at Fidelity.
Pensato’s funds will now transition to RWC that currently manages $11.2bn in assets. Rumble, Champion, and Clapp are among the seven-strong investment team who will join RWC as part of the deal.
RWC CEO Dan Mannix said: “We have built on the process I developed during my time at Fidelity, and by joining with RWC we have the opportunity to develop our strategies and focus purely on generating performance for our investors.”