River & Mercantile acquires Credit Suisse AM’s emerging market team

River and Mercantile Group has poached the emerging market equity team of Credit Suisse Asset Management.

Following a cooperation agreement, Credit Suisse’s Al Bryant and Todd Leigh, together with their Emerging Markets Industrial Life Cycle team, will transfer an initial $360m (£282m) of assets to RMG.

The US-based ILC team will continue to serve both RMG and Credit Suisse’s clients.

Subject to regulatory approval, the Credit Suisse (Lux) Global Emerging Market ILC Equity and the Credit Suisse (Lux) Global Small & Mid Cap Emerging Market ILC Equity funds will be rebranded as River & Mercantile.

Credit Suisse Asset Management head of equities Filippo Rima says: “With River and Mercantile, Credit Suisse Asset Management found a great partner for our investors. This transaction is an integral part of our focus and specialisation strategy.”

River and Mercantile Group chief executive Mike Faulkner says: “We are excited about this new relationship with Credit Suisse Asset Management and the addition of Al and Todd to the investment team at RMG.

“They add significant expertise in equity emerging markets that will allow us to broaden the global equity based solutions we are able to offer our clients.”