RAB Capital takes minority stake in Japanese asset manager

London-based absolute return investment manager RAB Capital has acquired a 20 per cent stake in Tokyo-based Prestige Asset Management, which was established three years ago by a former managing director of Goldman Sachs in Japan.

Prestige, which provides investment advisory and distribution services for investment products in Japan, was established in 2004 by president and chief executive Makoto Matsuzaki, and currently has nine employees.

According to RAB Capital, the minority stake in Prestige gives the UK firm a significantly improved marketing capability in the Japanese market, and allows it to benefit from Prestige's understanding of the country's asset management market and relationships within it.

'Makoto Matsuzaki has put together an impressive team that has already been successful in distributing selected RAB products,' says RAB Capital executive chairman Michael Alen-Buckley. 'This strategic shareholding further deepens our relationship, and reflects a goal of establishing broader co-operation with Prestige in promoting the RAB offering in Japan.'

Founded in 1999, RAB Capital had USD7.1bn in assets under management at the end of September 2007 in 13 single-strategy and two multistrategy absolute return vehicles, each with assets exceeding USD100m, and also manages the AIM-quoted company RAB Special Situations. The management company is itself a constituent of the FTSE AIM UK 50 Index.

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