EM specialist snaps up Renaissance Asset Managers
Renaissance Asset Managers has been acquired by emerging markets specialist Kazimir Partners.
The Russian group has bought the entire Renaissance Asset Managers (RAM) business from Renaissance Group following a decision by the parent to sell its asset management arm back in November.
The group said today in a statement: “We are pleased to announce that, effective 22 March 2013, Kazimir Partners, a respected emerging markets alternatives specialist, has acquired the RAM business.”
The group said the deal would enhance its business, with existing RAM managers taking equity stakes in Kazimir as part of the deal.
RAM added: “We have made great strides in recent years in building out our institutional asset management business and, we believe, laying strong foundations for delivering the performance and service excellence institutional clients expect from a leading international emerging markets specialist.
“While our fund offering continues to go from strength to strength in terms of performance, inflows and in achieving industry recognition – our 12 UCITS funds now stand at over $700m of client assets – now is the time to accelerate the implementation our investment and distribution strategy.”
This article was first published on Investment Week