IM Global Partner is expanding its U.S. footprint by partnering with Richard Bernstein Advisors, the firms said Wednesday.
IMGP is taking a 45% non-controlling stake in RBA, a New York-based asset allocation specialist with $14.6 billion under management and advisement for ETF-based portfolios, while iM Global Partners currently operates in 16 locations in Europe and the U.S. through numerous partners, with $35 billion under management.
RBA senior Investment committee members and IMGP partners do not plan to change operations or portfolio approaches, the firms said in the joint release.
RBA CEO, CIO and founder Richard Bernstein said in the release that with iM Global Partner's European institutional distribution and offshore capabilities, the partnership will seek to expand his firm's investor base globally.
Philippe Couvrecelle, CEO and founder of iM Global Partner said in the release that "the partnership not only demonstrates the scale and vision of our global network, but also underlines our deep commitment to the U.S. market."