EM specialist snaps up Renaissance Asset Managers

Renaissance Asset Managers has been bought by emerging markets specialist Kazimir Partners, in a move which will see a number of its funds merged into other products, and a raft of new strategies launched.

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. As part of the deal, the existing RAM managers will end up with equity states in Kazimir totalling between 35%-40%. Adrian Harris, head of investor relations and distribution at RAM, said it will make sense for some products to be merged following the takeover. He said Kazimir will provide seed capital to launch new products and to invest in existing ones. "Kazimir has a Russian debt and Russia...