Reinet Investment SCA (PK) (USOTC:REVNF)
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Bill Winters, former co-chief executive of JP Morgan Chase & Co's (JPM) investment bank, Thursday said he has started a new asset management company backed by listed investment vehicles RIT Capital Partners PLC (RCP.LN) and Reinet Investments SCA (REVNF).

The new company, Renshaw Bay, will be half-owned by Winters--who will be chief executive and chairman--and half-held by RIT and Reinet. The company said it will advise new and existing funds and investment companies and may create or acquire its own investment management capabilities.

RIT is a London-listed investment trust whose chairman is Jacob Rothschild and Reinet Investments trades in Luxembourg under the chairmanship of Johann Rupert.

Winters left JP Morgan in September 2009, after having previously been seen as a potential successor to Chief Executive, Jamie Dimon. Since then, his activities have included a seat on the U.K.'s Independent Commission on Banking studying ways to improve competition and financial stability in U.K. banking.

"Our objective is to build a global alternative asset management and advisory business that provides outstanding and differentiated investment opportunities for our founding shareholders as well as other sophisticated investors who value our strong focus on risk management and alignment between investors and investment managers," Winters said in a statement.

-By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; margot.patrick@dowjones.com