RWC Partners is acquiring Pensato Capital, the boutique investment manager set up by former Fidelity manager Graham Clapp in 2008.
Clapp previously spent 22 years at Fidelity where he was manager of the €25bn European Growth fund. Edward Rumble and Russell Champion, who worked with Clapp at Fidelity, are senior members of the seven-strong investment team that will join RWC.
Pensato manages around $280m in both long/short and long-only European equity funds while RWC manages approximately $11.2bn across several investment strategies.
Clapp says: “It is critical to me and my team that we spend our time analysing companies and I really like the focus RWC has on creating the right environment for its investment teams. We have built on the process I developed during my time at Fidelity and by joining with RWC we have the opportunity to work within a broader organisation that offers the resources and diversification that will help us to develop our strategies and focus purely on generating performance for our investors.”
“It’s very exciting to join RWC at a time when Europe is back on people’s radar. We have a hugely intensive company meeting programme and believe there is a plethora of opportunity in European equities. I’ve been investing in the UK and Europe for over 25 years and it remains a really attractive place to be an active fund manager.”
CEO at RWC Dan Mannix adds: “Graham has established himself over the last 25 years as one of the great stock pickers in Europe. He and his team have established a world-class European equity capability that builds on his distinguished career at Fidelity. As we’ve got to know Graham it’s apparent he is an exceptional investor with an undimmed passion for analysing and investing in stocks.”