News broke in June 2015 that Guardian put RS Investments on the block, and in December 2015 Guardian unveiled a deal to sell RS to a private equity-backed mutual fund firm, Victory Capital. The deal closed in July 2016.
RS Investments was founded in 1990 as the asset management arm of Robertson Stephens & Company, a San Francisco-based venture capital firm started in 1978.
The first RS Fund was the Orphan Fund, which opened in 1990. The Contrarian Fund was opened in 1993.
Robertson Stephens was sold to Bank of America in 1997. G. Randy Hecht, President and CEO, and founding partner Paul Stephens led a management buyout of the asset manager from the bank that closed on March 1, 1999.
Guardian Investor Services (GIS) acquired RS in 2006. Subsequently, RS adopted the funds previously advised by The Guardian Life Insurance Company of America (parent of GIS) and rebranded them under the RS Funds umbrella.
GIS is the investment sub-advisor to the RS Funds' asset allocation, equity index and fixed income funds.
On January 4, 2012, RS Investments named Matthew Scanlan as its new CEO, succeeding Terry Otton, who retired from the company.
RS announced the adoption of the Oak Value Fund, a GARP manager, on June 24, 2010. The transaction was completed on September 7, 2010.