Renaissance Asset Managers (RAM), the investment management business of the Renaissance Group, has acquired the investment management role of the Griffin Eastern European Fund, a sub-fund of Griffin Umbrella Fund.
Griffin Eastern European Fund, launched in October 1998, invests in Eastern Europe and Turkey and is complementary to RAM’s existing portfolio of funds .
RAM said that the deal would increase its assets under management to $2.7bn from $2.4bn.
The fund will be managed by RAM’s chief investment officer Plamen Monovski and Karol Chrystowski, co-fund manager of the Renaissance Emerging Europe Fund.
RAM head of distribution and investor relations Adrian Harris said that with this transaction they build on the $200m Luxembourg fund range that they founded in 2010 to provide their institutional clients with the scale and opportunity, as well as the excellent investment performance, they have come to expect.
"We will continue to build the UCITS business through organic growth and future acquisitions," added Harris.