Hedge fund manager Alternative Investment Group and emerging and frontier markets equity manager Berens Capital Management will merge effective June 1, a spokeswoman said.
Terms of the deal, which will close on June 1, are not being disclosed. Rodney Berens, founder and co-chief investment officer at Berens, and Timothy Schilt, co-CIO, will continue as co-CIOs of the Berens strategies and will become partners at Alternative Investment Group.
The majority of Berens Capital Management staff is expected to remain, according to a news release.
Alternative Investment Group has about $900 million in assets under management; Berens Capital Management has about $350 million in AUM.