New York-based alternative asset manager Ramius Alternative Solutions has entered into a strategic alliance with a Connecticut firm.
Ramius announced in a joint statement with Conning, which provides asset management services for the insurance industry, that the two firms are working together to develop a variety of investment strategies to meet the specific needs of insurance companies.
The solutions that Conning and Ramius are developing for insurers will utilize certain strategies traditionally employed by hedge funds, including exchange-traded funds and total return swaps. The firms explained that the approach will provide clients access to hedge fund strategies, but with “significantly lower fees and capital charges as well as greater transparency and liquidity.”
Founded in 1994 by Peter Cohen, former Shearson Lehman Chairman and CEO, Ramius manages about $8.9 billion in assets. It is the global alternative investment management branch of Cowen Group. Conning has additional offices in Purchase, London, Cologne and Hong Kong and has about $86 billion in AuM.