A hedge fund tycoon whose Cayman Islands-based firm invests in arms companies supplying Israel has bought a remote Scots isle.
Daniel Luhde-Thompson, along with his wife Cressida Pollock, former CEO of English National Opera, have taken over the Isle of Rona, near Skye, with its two remaining inhabitants set to leave.
Now questions have been raised about his ties to controversial investment fund Quadrature Capital, where he is a senior strategic adviser.
The firm, which pays staff an average salary of around £2.5million, donated £4m to Keir Starmer’s Labour party ahead of last year’s general election, Britain’s sixth-largest political donation ever.
Concerns later emerged about Quadrature’s backing of weapons, fossil fuels and private healthcare firms.
It included nearly £100m of shares last year in firms supporting Israel’s assault in Gaza such as arms company Lockheed Martin which supplies F-35 jets used to bomb Palestinians.
Campaigners – who warn Scotland is being turned into a playground for the super-rich – say the sale of Rona should have been subject to a public interest test.
Scottish Green MSP Ariane Burgess said: “Our islands are special places and it is sad when they are treated as a commodity or a status symbol for the wealthy and powerful.
“I’m certainly alarmed by some of the new owner’s associations and investments of the fund, which could not be further from the values of people on Skye.”
Scotland has some of the most concentrated land ownership in the western world. Half of all private Scots land is owned – astonishingly – by 400 people.
The Scottish Government’s draft Land Reform Bill has been criticised as too timid to tackle land monopolies by millionaires and billionaires.
Burgess said she was urging ministers to “introduce strict public interest tests that take into account the impact on communities when sales take place”.
The sale of 2400-acre Rona for an undisclosed fee was revealed last month. Between Skye and Raasay, it is home to roaming deer and minke whale sightings.
Its two residents, Bill Cowie and Lorraine Shill, who have looked after it for over 20 years, are retiring and moving to Skye.
Revelations about Quadrature’s investments in arms firms – and shares worth about £125m in oil companies – emerged after it said it donated to Labour based on its green policies.
London-based Luhde-Thomp-son also personally gave over £500,000 to the party last year.
Quadrature says it uses “market-neutral trading strategies” – meaning it holds long and short positions stocks at the same time. It has also denied its registration in the Cayman Islands was done for tax avoidance.
Luhde-Thompson and Pollock bought Rona through firm Fior Rona Ltd, set up in June.
A source close to Luhde-Thompson criticised “ill-informed analysis on Quadrature’s business and its values”, noting he is a long-time donor to environmental and conservation causes.
Fior Rona Ltd said it will “look to carry on the excellent work of the previous owners and custodians and will try to ensure that the natural heritage continues to thrive”.
