RIT Capital Partners plc (RITPF) is a FTSE 250-listed UK investment trust that manages a diversified global portfolio across quoted equities, private investments, and uncorrelated strategies including absolute return, credit, real assets, government bonds, and currency; it allocates to direct holdings, specialist external managers, and funds such as Discerene, 3D Opportunity, Thrive Capital, Greenoaks Capital, Iconiq, and Tresidor. Founded as the Rothschild Investment Trust in 1971 and headquartered at 27 St James's Place in London, the company operates internationally with significant exposure to the US, Europe, Japan, and China, targeting long-term capital growth for shareholders through access to hard-to-reach opportunities via its Rothschild family network and permanent capital structure; J. Rothschild Capital Management Limited serves as its investment manager. Key holdings encompass direct quoted equities like Microsoft, National Grid, and Amazon; direct private investments including Motive, SpaceX, Epic Systems, and Kraken; and private funds focused on growth equity in technology, fintech, and healthcare/life sciences. In 2025, RIT realized significant value from its private portfolio, including full exits from Xapo Bank at a 2.3x multiple and Webull post-IPO at 2.2x, alongside partial realization from Scale AI via Meta's 49% stake acquisition at a 109% uplift to book value, and fund-level IPOs/exits such as Chime, Figma, and potential Wiz sale to Alphabet; it increased its SpaceX position amid the company's $425bn valuation and took a major stake in National Grid ahead of its £60bn grid investment programme, while repurchasing £66.5m in shares year-to-date and trimming private exposure toward 25-33% of NAV under a more concentrated strategy led by CEO Maggie Fanari since 2024.