RWC adds institutional salesman

Rash Patel joined RWC Partners with responsibility for direct sales to institutional investors in the U.K. and other markets, said Dan Mannix, CEO at the firm.

The role is new.

Mr. Patel will work with Jo Lancaster, who is responsible for consultant relations.

In a telephone interview, Mr. Mannix said that, regarding the sophistication of pension funds and institutional relationships, “what has become apparent is that we need a more traditional structure, with (someone) responsible for the consultants, and (someone) for the direct investors.”

Over the past 18 months, RWC's assets under management have increased to about $10 billion from about $5 billion, Mr. Mannix said. Over that time, the firm has developed its European activist business and has launched two global equity strategies. “We have seen a general increase in the level of interest in what we do from global institutions,” he said.

Mr. Patel was director of U.K. and Ireland sales at MFS Investment Management. His departure followed a review and reorganization of the U.K. institutional business, a spokesman said at the time.