AllianceBernstein has agreed to acquire Ramius Alternative Solutions LLC, a money manager with more than $3 billion in assets under management as of July 1, said AllianceBernstein spokesman Jonathan Freedman.
Terms of the deal, which is expected to close by Sept. 30, were not disclosed.
RASL is jointly owned by Ramius LLC (the investment division of Cowen Group) and the two principals of RASL, Stuart Davies and Vikas Kapoor. It offers customized alternative investment and advisory services to a global institutional client base.
This acquisition adds new investment capabilities in factor-based and alternative risk premium solutions to AllianceBernstein and expands the firm's offerings in multiasset and alternative investments.
Messrs. Davies and Kapoor will join AllianceBernstein, along with all investment and support team members of RASL.
AllianceBernstein has $492 billion in AUM.