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iM Global Partner Takes 45% Stake in Richard Bernstein Advisors

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What You Need to Know

  • RBA's senior investment committee members will continue to run operations independently and manage portfolios.
  • RBA has about $14.6 billion in total assets, including about $5 billion in discretionary assets.
  • The iM Global Partner infusion will expand RBA’s investor base globally and enhance iM Global Partner’s U.S. presence, explained Bernstein.

iM Global Partner, a global asset management network headquartered in Paris, has taken a 45% stake in Richard Bernstein Advisors, a New York-based investment management firm that specializes in asset allocation.

Terms of the deal were not disclosed.

RBA, headed by its namesake, had $14.6 billion in combined assets under management (AUM) and under administration as of June, according to the joint announcement. RBA’s latest Form ADV filed in early May lists $4.7 billion in discretionary assets, known as AUM.

The iM Global Partner investment represents “the formation of a very powerful symbiotic relationship” between the two firms, Bernstein said in a statement. “iM Global Partner’s proven European institutional distribution and offshore capabilities will expand RBA’s investor base globally, whereas RBA’s broad US visibility will significantly enhance iM Global Partner’s rapidly growing presence in the U.S.,” explained Bernstein.

RBA’s senior investment committee members will continue to run operations independently and manage portfolios using the same philosophy and approach developed in 2009, as is the case with all partners of iM Global Partner, according to the press release.

The new partnership marks “a major milestone in iM Global Partner’s U.S. strategic expansion” whose network also includes U.S.-based Polen Capital, Dolan McEniry, Scharf Investments and LitmanGregory, according to IM Global Partner.

Philippe Couvrecelle, its CEO and founder, called RBA “a great addition” to the firm’s partner network, which “not only demonstrates the scale and vision of our global network, but also underlines our deep commitment to the US market.”

iM Global Partner connects high-quality investment firms with financial institutions, wealth advisory platforms and investors worldwide.

RBA manages ETF-based asset allocation SMA portfolios for wealth management and RIA platforms and sub-advises several mutual funds, unit trusts, and ETFs, using a top-down research approach that combines proprietary, macroeconomic research with quantitative analysis.

Its investment process focuses on uncovering global cyclical and secular investment themes and its portfolios focus on allocating assets across various countries, sectors, sizes and styles to generate alpha, while minimizing security selection risk.

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