Rutland’s origins date back to 1986 when a team led by Michael Langdon took executive control of a small quoted company which was subsequently renamed Rutland Trust PLC. Through acquisitions, the Trust quickly expanded into a significant sized financial and professional services group from its headquarters in Rutland Gardens, Knightsbridge.
By late 1990, during the UK’s economic recession, Rutland’s central management team recognised that they could achieve superior investment returns by applying their operating and management expertise to underperforming businesses across a broad range of industries. This strategy needed to be largely self-funding; therefore, the Trust exited the majority of its former service business activities and began to use the capital proceeds to position itself as a special situations investor.
During the 1990’s, the central team deployed themselves in interim executive roles in many of the Trust’s portfolio companies to develop and drive strategic turnaround plans. In doing so, they established a reputation as successful hands-on investors, gained substantial operational and portfolio company management skills and developed a broad network of deal sourcing contacts.
On the back of this successful track record, which included investments such as Thamesport, Ben Shaws and Castle Music, Rutland evolved into a private equity model, raising its first such Fund of £210m in 2000. This first Fund delivered good returns and saw the business develop its brand and intermediary networks.
The investment team was expanded and a second Fund of £320m in 2007 saw a significant widening of the LP investor base. In 2008, the team moved its headquarters to its current offices in Regent Street. Rutland Partners is currently investing its third Fund of £263m which was raised in 2014. Its private equity Funds have made a total of 25 investments between 2000 and 2017, deploying over £600m in investor capital.