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4

About Renaissance Asset Management

Renaissance Asset Management is based in South Korea.

Headquarters Location

Seoul,

South Korea

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Latest Renaissance Asset Management News

AMP Capital duo lands at Renaissance AM

Apr 1, 2022

Share AMP Capital’s Dermot Ryan and Tom Young have taken their $600 million odd tax-aware Equity Income Generator strategy to Renaissance Asset Management, as their old employer bids farewell to its listed equities and fixed income business. Dermot Ryan is off to Renaissance AM with co-PM Tom Young. They are keeping their old AMP Capital strategy but will have to start from scratch in building FUM. Louie Douvis Ryan and Young have the right to use their old investment strategy. It was a parting gift from AMP Capital to its 20 odd Australian equities investment team for sticking with it to the end. But they will be starting fresh in terms of money because their old FUM’s gone to Macquarie Asset Management. The strategy was $600 million at its peak, with a 60:40 split between retail and institutional. Renaissance’s partners will seed Ryan and Young’s new fund. It will have to go through retail rating houses and institutional asset consultants again for approvals but would get to use its old track record. It did 9.3 per cent annualised returns since inception and 11 per cent over the three years to February end. Advertisement Renaissance Asset Management’s focused on small caps, mid-caps and REITs so far, and so the AMP Capital strategy, with its focus on larger caps, won’t have overlap with Renaissance’s existing offering. For Renaissance’s founders David Fleming and Glen Hoffman, Ryan and Young’s arrival is a replay of their own circumstances. They founded the firm in 2003 after a similarly blessed strategy transfer from Rothschild Asset Management as it looked to get out of managing money in Australi a. Fleming had been the head of smaller caps and another ex-Rothschild investor Damien Barrack co-founded the listed property investing unit. Earlier this week, AMP Capital small caps team’s Phillip Hudak and Matt Griffin joined Maple-Brown Abbott to start a new fund, while Giuseppe Corona’s seven-person listed infrastructure team landed at HSBC. Macquarie Asset Management picked up $47 billion of funds under management from AMP Capital’s fixed income and global equities business for about $63 million in cash. With that, all of AMP Capital’s equities portfolio managers have new jobs. It leaves AMP with a multi-asset group, which builds portfolios from external funds instead of running strategies of its own. The other remaining part is the private markets business Collimate Capital, which AMP wants to demerge but for which it received a bid from Asian real estate giant ESR , who later shelved the plans. Anthony Macdonald co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter . Email Anthony at a.macdonald@afr.com Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au Save

Renaissance Asset Management Investments

4 Investments

Renaissance Asset Management has made 4 investments. Their latest investment was in J2HBiotech as part of their Series C on July 7, 2020.

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Renaissance Asset Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/7/2020

Series C

J2HBiotech

$10.82M

Yes

1

10/23/2019

Series B

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$99M

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10

9/30/2019

Series C

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$99M

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10

8/5/2019

Series A

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10

Date

7/7/2020

10/23/2019

9/30/2019

8/5/2019

Round

Series C

Series B

Series C

Series A

Company

J2HBiotech

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Amount

$10.82M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

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