The move will see a number of funds merged, and the launch of a raft of new strategies using seed capital from Kazimir. Both firms will retain their own names for the time being.
The deal value is undisclosed, and subject to regulatory approval.
Moscow-based frontier specialist Kazimir focuses on Russia and former Soviet Union countries and is one of Russia’s longest standing institutional asset managers. It has around $1.5bn in AUM.
Renaissance invests across Russia, emerging Europe, Africa and frontier markets. Its Ucits funds are distributed across Europe and the Middle East and have recently been registered in South Africa.
At the beginning of the year Renaissance announced the soft close of its £99m sub-Saharan fund to preserve liquidity.
Frank Mosier, managing director and chief investment officer, said: “The result of this alliance is a team of professionals with robust international experience and unparalleled local emerging market expertise.
“With the leadership, and financial and human resources provided by this transaction, we will have the critical mass to become a market leader in Africa and select emerging and frontier markets across the globe, as well as in Russia and emerging Europe.”
