Bains and Walsh made partners as Rockspring expands

Independently owned investment manager Rockspring has increased its number of partners from 12 to 14. Richard Bains and Tom Walsh have been promoted to partner, the first additions to the partnership since Edmund Craston joined the pan-European business in 2009 as managing director.

Bains and Walsh were already shareholders and have increased their ownership through a redistribution of existing equity. The partners own about 85%, while other staff own around 15%. Co-founder Richard Plummer, who became non- executive chairman last year, is the largest single shareholder.

Bains joined the firm in January 2009 and is primarily responsible for Rockspring’s UK Value funds. Fund 1 has realised one third of its investments and a first closing for UK Value 2 is expected soon. Walsh has been at Rockspring since 2005 and oversees European deals for separate account clients and, with Bains, also oversees the four-strong fund adviser analysts team.

Two more people are joining the business, taking staff numbers to 101: Rikesh Parmar has left his role working for the BBC’s property estate to take a new corporate development post at Rockspring, while John Kehoe will work in the UK transactions team, joining from Round Hill Capital.