Ramius Alternative Solutions to be Acquired by AllianceBernstein
Ropes & Gray represented Ramius LLC and Cowen Group, Inc. in the proposed sale of Ramius Alternative Solutions LLC (RASL) to global investment firm AllianceBernstein L.P.
RASL is jointly owned by Ramius, the investment division of Cowen Group, and the two principals of RASL, Stuart Davies and Vikas Kapoor. With more than $3 billion in assets under management as of July 1, RASL offers a range of customized alternative investment and advisory solutions to a global institutional client base.
New York-based Cowen Group is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, and prime brokerage services.
The transaction, announced Aug. 31, is expected to be completed by Sept. 30, 2016, subject to customary closing conditions.
The Ropes & Gray team advising Ramius and Cowen Group included private equity partner Daniel Evans and hedge funds partner Sarah Davidoff (both of New York).