Sir Richard Pease, 4th Baronet
Richard Pease | |
|---|---|
| Born | Richard Peter Pease 4 September 1958 |
| Citizenship | United Kingdom |
| Education | Eton College Durham University |
| Occupation | Fund manager |
| Employer(s) | New Star Asset Management (2001–2009) Henderson Group plc (2009–2014) Crux Asset Management (2014–2023) |
| Spouse | Victoria Pease |
| Children | 5 |
| Father | Sir Richard Pease, 3rd Baronet |
| Relatives | Nichola Pease (sister) |
Sir Richard Peter Pease, 4th Baronet (born September 1958) is a British investment manager. A specialist in the European equities market, he formerly ran the European Special Situations fund for three different fund management firms, including Crux Asset Management, which he founded in 2014.[1][2][3]
Early life and education
Pease was born in September 1958.[4] He is the only son of Sir Richard Pease, 3rd Baronet.[5] He has a sister, Nichola, who has also worked in asset management, and is the wife of another financier, Crispin Odey.[6]
He was educated at Eton, followed by a bachelor's degree in general arts from Durham University.[7]
Career
In 1979 Pease began working for the Central Board of Finance for the Church of England, having secured this role through his uncle.[6][5] He later joined Windsor Investment Management and moved to Jupiter Asset Management in June 1989.[6] He launched his first fund two years later, the Jupiter European fund, after convincing John Duffield to start a European desk.[6][5] He followed Duffield to New Star Asset Management in 2001, where he ran the flagship European Special Situations fund from its launch.[5] He continued in this role after the 2009 acquisition of New Star by Henderson Group plc.[6]
Crux Asset Management
Pease left Henderson to launch Crux Asset Management in October 2014, in what was described as a "high-profile departure".[6]As part of the move he took the £1.2 billion Henderson European Special Situations fund with him, which merged with another Crux fund a year later to form the Crux European Special Situations Fund.[6][8]
In February 2016, it was reported that Pease was suing Henderson Global Investors for £2.7 million in respect of unpaid income for the 2012 to 2014 period.[3] He won the case in April 2018.[6]
The Crux European Special Situations Fund was highly successful for a period of time, and surged ahead of the Euro Stoxx index.[8] However, the fund suffered "lacklustre" returns in the wake of the COVID-19 Pandemic, prompting Hargreaves Lansdown to remove the fund from its shortlist of recommended buys in September 2022.[8]
Pease retired in 2023 after Crux Asset Management was acquired by Lansdowne Partners for an undisclosed fee.[9] In 2025 it was reported he had been hired for an advisory role by Rockwood Asset Management.[10]
Investment style
Regarding his investment philosophy, Pease has been called the "European equivalent" of Neil Woodford.[2] His niche as an investor was identifying "under-researched" European mid-cap stocks.[5]
Personal life
Pease is married to Victoria "Vita" Pease, a former financial trader who published a novel, Playing FTSE, under the pen-name Penelope Jacobs.[11] As of 2016, they resided in Kensington and have two sons and a daughter, and two older sons from his first marriage.[11]
Pease bought the 10-bedroom 17th-century Newland House in Newland, Gloucestershire, in 2011, and was renovating it, when it was "completely gutted" by fire in April 2012.[12][13][14]
See also
References
- ↑ "Richard Pease | Fund manager factsheet | CRUX Asset Management Limited | FE Trustnet". Trustnet.com. Retrieved 4 July 2017.
- 1 2 "Star manager Richard Pease: Forget Greece and follow my rules to find growth shares". Telegraph. 25 June 2015. Retrieved 4 July 2017.
- 1 2 Lobo, Dylan (29 February 2016). "Richard Pease sues Henderson in £2.7m contract row". Citywire.co.uk. Retrieved 4 July 2017.
- ↑ "Richard Peter PEASE - Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 4 July 2017.
- 1 2 3 4 5 Husselbee, John (30 September 2015). "Nature vs Nurture: Crux's Richard Pease". Fund Strategy. Archived from the original on 13 March 2018. Retrieved 27 July 2026.
- 1 2 3 4 5 6 7 8 Robins, Williams; Kidane, Jonas (19 July 2022). "A life in fund management: Richard Pease". Citywire.co.uk. Retrieved 26 July 2026.
- ↑ "Richard Pease | Fund Manager Fact Sheet | CRUX Asset Management". Citywire. Retrieved 4 July 2017.
- 1 2 3 McGachey, Kristen (8 September 2022). "Hargreaves axes Richard Pease's Special Situations fund from Wealth Shortlist". Portfolio Adviser. Retrieved 26 July 2026.
- ↑ Benstead, Sam (31 May 2023). "European star fund manager to retire after investment firm acquired". Interactive Investor. Retrieved 26 July 2026.
- ↑ O'Connor, Tara (20 May 2025). "Crux founder Richard Pease joins Rockwood Asset Management". FT Adviser. Financial Times. Retrieved 26 July 2026.
- 1 2 Katie Law (31 May 2016). "Former city trader Victoria Pease on her sex-in-the-City bankbuster Playing FTSE | London Evening Standard". Standard.co.uk. Retrieved 4 July 2017.
- ↑ "Inferno house to rise from ashes | News | Forest of Dean and Wye Valley Review". Theforestreview.co.uk. Retrieved 4 July 2017.
- ↑ "Fire destroys historic Newland House in Forest of Dean - BBC News". Bbc.co.uk. 17 April 2012. Retrieved 4 July 2017.
- ↑ "Owner flies in to see historic house gutted | News | Forest of Dean and Wye Valley Review". Theforestreview.co.uk. 18 April 2012. Retrieved 4 July 2017.