South African billionaire Johann Rupert plans to create an asset management company to advise his new $2.5 billion (1.7 billion) Reinet Investments vehicle, The Wealth Bulletin reports.
According to documents filed with the restructuring of his business empire, Rupert wants “to establish a team of experienced investment managers with strong records focusing on long-term capital growth”.
The team will advise Reinet, which is set to become a listed company. Ruperts main company, Richemont, will continue to develop its luxury goods activities following the disposal of a large stake in tobacco company BAT.
The full article is available at The Wealth Bulletin web-site.