The acquisition of the two Emerging European funds, which have combined assets of $116m (£74m, €88m), follows RAM’s takeover of the $252m Griffin Eastern European Fund in December last year.
The funds acquired are the Griffin Ottoman Fund, a Dublin-domiciled, Ucits IV compliant vehicle and the Griffin Eastern European Value Fund, also Dublin domiciled.
Aziz Unan, who will join RAM as part of the deal, has managed the $42m Ottoman Fund since its launch in January 2006. The fund is an equity strategy with a focus on Turkey and a broad Eastern European and MENA equity exposure overlay. It will be renamed the Renaissance Ottoman Fund.
The $74m Griffin Eastern European Value Fund, which is to be renamed the Renaissance Eastern European Allocation Fund, is a total return strategy investing in equities and fixed income across the region. Robert Holmes has been managing the fund since 2008 and is set to continue to do so at RAM.
Both managers will join RAM’s Emerging Europe team in London.
