Press release from Business Wire
Ramius and Ramius Alternative Solutions to Extend Partnership Long-Term
Monday, September 16, 2013
Ramius and Ramius Alternative Solutions to Extend Partnership Long-Term09:00 EDT Monday, September 16, 2013
NEW YORK (Business Wire) -- Ramius LLC, (“Ramius”) the global investment management business of Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN), today announced that it has entered into an agreement for the long-term extension of its partnership with Ramius Alternative Solutions, LLC (“RASL”) portfolio managers, Stuart Davies and Vikas Kapoor.
RASL offers a range of customized hedge fund investment and advisory solutions with approximately $2.9 billion in assets under management as of August 1, 2013. Under the agreement, a new operating committee has been established to oversee the business consisting of Michael Singer, Chief Executive Officer of Ramius; Thomas W. Strauss, Chairman of Ramius and Vice Chairman of Cowen Group, Inc.; Stuart Davies, Co-CEO of RASL; and Vikas Kapoor, Co-CEO of RASL.
Michael Singer said, “We are very pleased to continue our longstanding relationship with Vikas and Stuart, as they are exceptionally talented and proven investment professionals. Our partnership with them is another example of the ongoing growth at Ramius and how we meet the demands of sophisticated institutional investors. We will continue to source and develop talented investment teams to expand our capabilities and deliver alpha and solutions to our investors.”
Stuart Davies, with Vikas Kapoor, said, “We are delighted to extend our partnership with Ramius and continue to develop the capabilities of RASL with the ongoing benefit of the firm's infrastructure, operations and marketing capabilities. RASL is uniquely positioned to help institutions meet their demands for creating efficient alternative portfolios, capturing hedge fund alpha, measuring and managing traditional and alternative betas, and managing portfolio volatility. We look forward to a long and productive partnership with our friends and colleagues at Ramius.”
Thomas W. Strauss said, “We are thrilled to announce the extension of this partnership. Since Vikas and Stuart joined Ramius in 2008 and 2009, respectively, they have implemented a wholesale change to Ramius' traditional fund of hedge funds business and successfully created and scaled a differentiated alternatives business focused on creating customized investment solutions for sophisticated global institutions. They have developed proprietary algorithms and tools that enable access to hedge fund exposures for clients who have investment mandates or regulatory constraints that require greater liquidity, transparency, fee sensitivity, or risk management flexibility than a traditional portfolio of hedge funds would allow. We are proud of what they have accomplished for clients, and for Ramius, and we look forward to our ongoing relationship.”
About Stuart Davies
Stuart Davies was most recently a Managing Director and Co-Head of Ramius Alternative Solutions LLC. Mr. Davies joined Ramius in January 2009.
Prior to joining Ramius, Mr. Davies was a Managing Director and Global Head of Investments at Ivy Asset Management in New York and was a member of Ivy's Executive Committee and Investment Committee. Earlier in Mr. Davies' career, he was a member of the International Investment Committee of Coronation Fund Manager and also spent three years at Nedcor Investment Bank International, a subsidiary of Old Mutual Plc, as Head of the Investment Team. Mr. Davies started his career in 1992 with Deloitte and Touche in both their audit and corporate finance divisions.
Mr. Davies graduated from the University of Cape Town with a Bachelor of Commerce and Post Graduate Diploma in Accounting. He is also a Chartered Accountant and a CFA charterholder.
About Vikas Kapoor
Vikas Kapoor was most recently a Managing Director and Co-Head of Ramius Alternative Solutions LLC. Mr. Kapoor joined Ramius in June 2008.
Prior to joining Ramius, Mr. Kapoor was a Managing Director at Arden Asset Management focusing on Portfolio Construction and Risk Management and was a member of Arden's Investment Committee and Management Committee. Earlier in Mr. Kapoor's career, he was Managing Director of Deutsche Bank's Absolute Return Strategies Group where he headed the Quantitative Analysis and Applications Group.
Mr. Kapoor received an M.S. in Computational Finance from Carnegie Mellon University in 2003, an M.B.A. in Finance with Honors from the Tulane University in New Orleans in 1996 and a B.Tech. in Mechanical Engineering from Regional Engineering College, Kurukshetra, India in 1991.
About Ramius LLC
Ramius, a global contemporary investment management firm with $9.2 billion in assets under management (as of August 1, 2013), offers a broad suite of investment products and solutions to institutional and private clients worldwide. Founded in 1994, the firm's capabilities include hedge fund solutions, value equity activism, event driven, healthcare royalties, real estate direct lending, credit, and managed futures. A significant portion of Cowen's proprietary capital is managed by Ramius in strategies alongside our clients.
About Cowen Group, Inc.
Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates make up the Company's alternative investment segment, while Cowen and Company and its affiliates make up the Company's broker-dealer segment. Ramius provides alternative asset management solutions to a global client base and manages a significant portion of Cowen's proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. Founded in 1918, the firm is headquartered in New York and has offices located in major financial centers around the world.
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Dan Gagnier/Carissa Ramirez, 212-687-8080