On January 26, 2012, Renaissance Asset Managers announced that it will take on the management of Griffin Ottoman Fund and Griffin Eastern European Value Fund, boosting its assets by approximately $116 million.
On January 26, 2012, Renaissance Asset Managers announced that it will take on the management of two emerging European funds: the Griffin Ottoman Fund and the Griffin Eastern European Value Fund. The Ottoman Fund is a UCITS IV equities strategy focusing on Turkey and broad Eastern European and MENA equity exposure and will be renamed the Renaissance Ottoman Fund. The Eastern European Value Fund, a total return strategy investing in equities and fixed income will be renamed the Renaissance Eastern European Allocation Fund. The transaction marks the completion of the deal with Griffin following the acquisition of the Eastern European Fund in December 2011, which we reported here. Renaissance is a specialist asset manager focused on Emerging Europe, Russia and Africa. The transaction will bring total Renaissance assets under management to approximately $2.8 billion.
To read the press release, please click here.