Renaissance swells assets with double fund takeover

Renaissance Asset Managers (RAM) has acquired two Eastern European funds from specialist EM fund house Griffin Capital Management.

The group has taken on the management of the $42m Griffin Ottoman and the $74m Griffin Eastern European Value funds. The move swells the asset base of the emerging market focused asset manager to $2.8bn (£1.79bn). Aziz Unan, who has managed the Griffin Ottoman fund since 2006, joins RAM to manage the fund, which will be renamed the Renaissance Ottoman fund. Robert Holmes, the existing manager, will also move to RAM and continue to run the Eastern European Value fund, which is now called Renaissance Eastern European Allocation. The deal follows the acquisition of the $252m Easter...