Mediobanca has completed its acquisition of a majority stake in RAM Active Investments after receiving regulatory approval.
The Italian group first made a move for the Geneva-based asset manager in December, which saw it take a 69% stake in the systematic specialist.
With this purchase, which marks Mediobanca’s fourth acquisition in two years, the company is aiming to leverage RAM AI’s quant expertise and boost more business in the systematic area, as well as producing a larger focus on research and innovation.
Commenting on the arrangement, Mediobanca’s CEO, Alberto Nagel, said: ‘This deal will allow Mediobanca to add a high-quality offering to its platform as the basis for developing group systemic strategies
‘Our ongoing investments in the research will also enable us to create an innovation hub in order to generate new investment ideas.’
This sentiment was echoed by RAM AI’s CEO, Thomas de Saint-Seine, who said: ‘This partnership will provide us with additional operational resources and seeding capabilities that will help drive research at RAM AI. RAM AI will actively contribute to foster the innovation within the group.’
The company is set to receive CHF200m of seed funding from Mediobanca to allow for the launch of new investment products and offerings.
Saint-Seine is one of three partners at RAM AI, along with Maxime Botti and Emmanuel Hauptmann. All three will retain significant stakes in the company, and will remain committed to the development of RAM AI for a minimum of 10 years.
Early investor REYL Group will also retain a 7.5% stake in the company and will continue to act as a key partner.