Italian banking group Mediobanca has agreed to acquire a 69% stake in RAM Active Investments (RAM AI), the asset management arm of Swiss bank Reyl Group.
RAM AI, which provides actively managed and alternative systematic fundamental equity and tactical fixed-income funds to institutional and professional investors, will retain its organisational and operational independence following the takeover. The Geneva-based firm reported assets under management of CHF4.9bn across 14 funds at the end of October 2017.
RAM AI’s founding partners Thomas de Saint-Seine, Maxime Botti and Emmanuel Hauptmann will continue to hold significant stakes in the firm.
REYL Group will retain a 7.5% holding in RAM AI and remain an anchor investor in the latter’s product offerings.
The deal is expected to be completed in the first half of 2018, subject to regulatory approvals. Financial terms of the deal were not disclosed.
Mediobanca group CEO Alberto Nagel said: “RAM AI is uniquely qualified to complement Mediobanca active investment management business and will become the cornerstone for the launch of the Group’s systematic strategies and innovation hub for the development of new investment ideas.
“In addition RAM AI will contribute scale to our alternative platform, will complement the product offering by adding equity strategies and is exceptionally well positioned to benefit from a complementary investor base, distribution network and geographical reach.”