Italian banking group Mediobanca has taken a significant stake in Swiss asset manager RAM Active Investments in a deal which locks in its star fund manager trio.
The strategic agreement signed by the firms will see Milan-based Mediobanca take a 69% interest in the Geneva firm, which currently manages CHF 4.9 billion (€4.22 billion) across 14 funds.
Founding partners Thomas de Saint-Seine and Emmanuel Hauptmann and Maxime Botti, who are all Citywire + rated, will retain significant stakes in the firm and remain committed to the company for a minimum of 10 years.
As part of the deal, Mediobanca has set out ambitious growth targets for RAM AI, which includes being involved in Mediobanca’s target of raising its current €30 billion in assets under management and assets under advisory by 15%.
Reyl Group, which historically seeded RAM AI and remains an institutional shareholder, will retain a 7.5% stake in the company. The transaction, which is still subject to regulatory approval, is expected to be completed in the first half of 2018.