AllianceBernstein has announced a definitive agreement to acquire Ramius Alternative Solutions LLC, a global asset manager with more than US$3 billion in funds under management as at 1 July 2016.
Ramius Alternative Solutions (RASL) provides institutional clients with alternative investment and advisory services, and AllianceBernstein (AB) said the acquisition will add “new investment capabilities” to its business offering.
“These solutions provide access to return sources that can complement an investor's existing alternative strategy, and offer the benefits of improved liquidity, reduced cost and greater transparency to overall portfolio construction,” the company said.
AB co-head of multi-asset solutions, Vadim Zlotnikov, added that the two businesses shared a similar mindset when it comes to their investment approach, and that the acquisition was a natural extension of AB’s multi-manager equity portfolio strategies.
“[RASL] bring an excellent reputation among the most sophisticated institutional investors for their ability to construct and manage a wide range of alternative investment solutions utilizing alternative risk premia and other factors-based investments,” Mr Zlotnikov said.
RASL co-chief executive and joint owner Stuart Davies said the deal would also improve the services RASL is able to offer institutional clients.
“We are very excited to join AB, a firm with a history of research excellence, and impressive global distribution capabilities and robust infrastructure that will enhance our ability to continue developing customised alternative solutions that meet the complex investment needs institutional clients face today,” he said.
The wealth giant’s shares are in a trading halt as it prepares a capital raise, with rumours swirling that it is set to acquire MLC. ...