Renaissance buys Eastern European fund
Griffin acquisition adds German-speaking market to portfolio.
Renaissance Asset Managers (RAM) has bought the Griffin Eastern European Equity Fund for an undisclosed sum.
RAM, Russian investment bank Renaissance Group’s asset management division, bought the fund from independent boutique Griffin Capital Management.
The acquired fund, which invests in Eastern Europe and Turkey, increases RAM’s funds under management by US$300mn to US$2.7bn.
RAM focuses on Russia, the CIS, emerging Europe and Africa and following this deal adds the German-speaking markets to its portfolio. Griffin’s US$252mn Dublin-domiciled Irish UCITS fund is registered for distribution in Germany, Austria, Sweden and Switzerland.
The fund will now be managed by Plamen Monovski, RAM’s chief investment officer, and Karol Chrystowski, co-fund manager of Renaissance Emerging Europe Fund.
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