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Alternative Investment Group to Acquire Berens Capital Management Funds and Team
Monday 16 April 2018

16 April 2018 - US-based investment firm Alternative Investment Group has agreed a transaction with US-based asset manager Berens Capital Management, which will involve the Berens Capital Management team and funds becoming part of Alternative Investment Group on 1 June, the firm said.

Berens Capital Management is a global asset manager known for its high-quality research and focus on emerging and frontier markets.

Terms of the transaction were not disclosed.

Alternative Investment said the transaction will position the combined team as a leader in emerging markets multi-manager investing, with Berens Capital Management's emerging and frontier markets expertise complementing Alternative Investment Group's longstanding strengths in US and international long/short equity, credit, mortgages, event-driven and sustainability/ESG strategies.

The transaction will increase Alternative Investment Group's assets under management to approximately USD 1.25bn.

The majority of the Berens Capital Management team are expected to join Alternative Investment Group. Berens Capital Management Co-CIOs Rodney Berens and Timothy Schilt will continue as Co-CIOs of the Berens Capital Management portfolios and will become partners of Alternative Investment Group.

Berens and Schilt will join the Alternative Investment Group Investment Committees, contributing their expertise to the firm's overall investment decisions. Berens Capital Management president Kathleen Kimiko Phillips-Lohrmann will join Alternative Investment Group's Management Committee.

Alternative Investment Group was founded in 1996 and manages and advises approximately USD 900m in four multi-manager hedge fund strategies: diversified, international, opportunistic, and sustainability/ESG.

The firm was founded by Stewart Greenfield, co-founder of Oak Investment Partners, one of the most successful US venture capital firms, and David Storrs, the first Yale University endowment director and later president of The Common Fund, a then-USD 25bn manager-of-managers providing investment programs for educational institutions.

Berens Capital Management was founded in 2000 and manages approximately USD350 m, primarily in emerging and frontier markets.

Founder and co-CIO Rodney Berens was head of global equities at Salomon Brothers and previously head of equity trading and head of global equity research at Morgan Stanley.

Co-CIO Timothy Schilt was previously director of research and investment strategist for Japan at Morgan Stanley, a managing director at Tiger Management focusing on Japan, and a managing director at K2 Advisors.
Date Published: 16/04/2018
Target: Berens Capital Management team and funds
Country: USA
Sector: Banking/Financial Services
Type: LBO
Status: Agreed
Buyer: Alternative Investment Group
Terms of the deal were not disclosed