Edmond de Rothschild Group, the holding company for the Rothschild family’s French and Swiss banking and asset management businesses, has sold its private equity unit to management,
the
Financial Times
reported.
The private bank is chaired by Benjamin de Rothschild.
David Seligman, who founded the private equity unit, and his management team have taken over Rothschild’s 75% stake in Private Equity Select, the article said. The private equity business caters mostly to family offices. It will be renamed Seligman Private Equity Select. (Source:
Financial Times,
Oct. 17, 2011.)
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