HVB Group and Ramius Capital Group will combine their hedge fund-of-funds businesses, effective Jan. 1, HVB Group announced today. The strategic partnership, with a combined $3 billion in assets under management, will focus on the global institutional market, said Robert Siegfried, Ramius spokesman. Thomas W. Strauss, Ramius managing member, will lead an executive management committee comprising senior members of both firms, Mr. Siegfried said.
HVB Group subsidiary Bank Austria Creditanstalt holds a 24.9% equity position in Ramius Capital.
