AB Announces Definitive Agreement To Acquire Ramius Alternative Solutions LLC
PRNewswire.com – NEW YORK – AllianceBernstein L.P. (“AB“), a leading global investment firm with $492 billion in assets under management, announced today that it has entered into a definitive agreement to acquire RASL, which is jointly owned by Ramius LLC (the investment division of Cowen Group, Inc. [NASDAQ: COWN]) and the two principals of RASL, Stuart Davies and Vikas Kapoor. With more than $3 billion in assets under management as of July 1, 2016, RASL offers a range of customized alternative investment and advisory solutions to a global institutional client base. 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 acquisition adds new investment capabilities in factor-based and Alternative Risk Premia solutions to AB and expands the firm’s offerings in the multi-asset and alternatives investment space. Stuart Davies and Vikas Kapoor will join AB, along with investment and support team members of RASL.
“The RASL acquisition represents a natural extension of our factor completion strategies for multi-manager equity portfolios,” said Vadim Zlotnikov, Co-Head of Multi-Asset Solutions at AB. “They 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. And they share AB’s investment discipline and cultural mindset: research-driven, solutions-oriented, accountable and client-focused.”
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The transaction is expected to close in the third quarter of 2018.