Reyl & Cie Holding SA (“REYL Holding”), the holding company of REYL Group, a Geneva-based independent diversified banking group with assets under management exceeding CHF 15 billion, has entered into a binding agreement with Mediobanca Spa (“Mediobanca”), a leading Italian bank, pursuant to which REYL Holding and individual shareholders in RAM Active Investments SA (“RAM”) will sell to Mediobanca a combined 69% stake in RAM. As RAM’s historical seeder and institutional shareholder, REYL Holding will retain a 7.5% stake and will continue to operate as a preferred partner and an anchor investor in RAM’s products. RAM’s partners, Thomas de Saint-Seine, Maxime Botti and Emmanuel Hauptmann will retain significant stakes in RAM and will remain committed to its development for at least the next ten years.
Founded in 2007, RAM is a leading active and alternative asset manager that offers a range of fundamental systematic equity and tactical fixed-income funds to an array of professional and institutional investors. As of 31 October 2017, RAM managed assets of USD 4.9 billion across 14 funds.
“This partial exit fits well within REYL Group’s strategic plan. It will allow it to deploy significant capital in a number of key areas, including the implementation of an ambitious digital strategy around its Wealth Management unit and the build-up of its fast-growing Corporate Advisory and unlisted asset management franchises. It will also bring RAM several clear benefits, including long term seeding commitments across its product range and a larger distribution network within the EU, allowing it to achieve new milestones in its expansion”, said François Reyl, Managing Director of REYL Holding. “We are proud to have contributed to RAM’s evolution since its creation and are excited to continue accompanying its development going forward in association with Mediobanca, which we view as the ideal cornerstone partner for RAM at this stage of its life cycle. ”
The transaction is subject to customary conditions, including approval from the relevant regulatory authorities, and is expected to close in the first half of 2018.
Spencer House Partners LLP acted as financial advisors to RAM and the REYL Group in the context of this transaction.