Lord Rothschild's heir has invested £75 million in BR Properties to take advantage of Brazil's booming economy. Nat, from whose villa in Corfu Peter Mandelson reportedly ran Britain while Gordon Brown was on holiday in August, is expected to take a seat on the board of BR Properties. His father is the chairman of the RIT Capital investment group, which is also taking a minority stake in the company. Nat's previous property interests centred on Montenegro, where he is investing with another of Mandelson's chums, Oleg Deripaska, the controversial Russian oligarch. Mandelson's relationship with Nat became a major talking point when Mandrake disclosed last year that the former European trade commissioner had, while staying with Nat in Corfu, been entertained aboard the yacht of Deripaska, an aluminium tycoon, whose businesses benefited from tariffs the commission set. Nat, who is the co-chairman of the hedge fund Atticus Capital, has been linked to the son of the Libyan dictator Muammar Gaddafi, Saif al-Islam Muammar al-Gaddafi. In 2009, Saif threw his 37th birthday party at the Splendid Hotel in Becici, Lord Mandelson and Nat Rothschild share Brazilian ambitions
When Lord Mandelson pays tribute to President Lula of Brazil at the Banqueting House in Whitehall on Bonfire Night, his Brazilian-born boyfriend, Reinaldo da Silva, will not be the only one hoping for friendships to sparkle. The Business Secretary's holiday host Nat Rothschild has decided to expand massively his interests in Brazil.
Sunday 11 October 2009
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