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RWC Partners | 12 February, 2018
I would like to inform you that RWC has moved offices and extend an open invitation to come and visit us in our new home. After 10 fantastic years in Petty France we have moved into exciting new premises at The Verde Building in London Victoria.
As anyone who has ever visited our old offices over the years knows, the former stable block of the Royal Regiment of Horse Guards on Petty France is the spiritual home of RWC so it is with a tinge of sadness that we leave it behind. Even our company’s name and logo were inspired by this building.
Shortly after moving into Petty France in 2008 we found ourselves (thanks to German patent law) hastily in need of a new name. After a quick look around our new office surroundings for inspiration, Red Wheel Capital (RWC) was born. The name was taken from the rather large red metal wheel in the centre of the office, which had originally operated the old stable’s winch. Legend has it the winch was used to lift the military horses up and into the first-floor stables. The horses are long gone but these same stables comfortably housed many of our investment teams over the last decade. Less so in the last couple of years as our lease approached its end and investment in the building dwindled. Luckily we didn’t have to resort to using the old winch again, despite the temperamental elevators.
Red Wheel Capital has since become RWC Partners but the wheel itself still symbolises much about our company structure and beliefs and it will follow us, in spirit at least, into our new home. The wheel has become a succinct representation of the spoke and hub relationship between our core operating structure and the investment autonomy our teams enjoy - not bad for a somewhat random name choice, based off office architecture.
Following an exciting few years of growth and development for RWC, it is definitely time for us to move on. We originally moved into Petty France in 2008 with a total of $2 billion assets under management and 40 staff. Ten years later and we now run c. $15 billion on behalf of our clients and employ 148 people (yes, the last couple of years have been a bit cosy in the office). The move was inevitable and is the start of the next exciting chapter in our growth.
In uncanny similarity to when we hired our world class emerging market team just months before an EM cyclical bull market began, with sublime skill again, we have timed the end of our ten-year lease perfectly with the final stages of Petty France’s complete dilapidation. If only we were so clever!! However, this move really is borne out of necessity. Our industry, quite rightly, is under increased scrutiny from both the regulator and the general public to justify the fees we charge and the profits we make. There is no doubt that our new offices are an improvement on what we had, providing a marked improvement in the environment for our people and those who come to visit us.
This move has been driven both by the organic growth of the business and by the addition of established investment teams, attracted to our model of offering them autonomy to run their investment businesses, within a stable and attractive economic framework. We believe this is where we differ from the more traditional asset managers, focusing on the people and their skills, aligned to clients’ needs, rather than trying to hunt for strategies we don’t already have.
In the next chapter of our development, we remain focused on always delivering differentiated and clearly articulated specialist investment services to our clients.
As we look forward, and as we navigate the ever-growing complexity of the asset management industry, we believe this market environment will provide significant opportunities for organisations like RWC, who focus on specialist investment services and can support strong fund management teams.
I would like to take this opportunity to thank you for your continued support and look forward to welcoming you to our new offices.
Chief Executive Officer