AB to buy a firm with US$3b in FUM
Global investment firm, AllianceBerstein (AB), has inked a deal to buy RASL, which holds over US$3 billion in asset under management.
RASL, which was an alternative investment and advisory group offering solutions to global insitutional clients, was currently joint owned by Ramius LLC and RASL's two principals, Stuart Davies and Vikas Kapoor.
The acquition would add investment capabilies in factor-based and alternative risk premia solutions to AB and expand its multi-asset altentaive offerings, AB said. Davies and Kapoor would join AB, along with their investment and support teams.
AB's co-head of multi-asset solutions Vadim Zlotnikov, said: "They [Davies and Kapoor] bring an excellent reputation among the most sophisticated insitutional investors for their ability to construct and manage a wide range of alternative solutions using alternative risk premia and other factor based investments".
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