Renaissance men
Renaissance Asset Management is another boutique investment firm recently launched by a group of former institutionally tied executives. The group, which specialises in small caps and listed property securities, was launched in June last year by formerBTandSagittainvestment staffers David Fleming, Carlos Cocaro, Glen Hoffman and Damien Barrack.
Renaissance is the holding company for the group’s two separate businesses — Renaissance Smaller Companies and Renaissance Property Securities — which are managed by the former heads of Sagitta’s small caps and property securities teams, Fleming and Cocaro respectively.
The small cap business now manages over $100 million in discrete mandates since attracting its first client in August. However, the property securities business, which was several weeks behind the small caps business in terms of being granted a licence, is now marketing to potential clients.
According to Fleming, his side of Renaissance will also launch a wholesale unit trust before June in order to attract clients whose investments do not warrant discrete management (investments below $20 million).
He says the continued rise of boutiques in domestic markets has been buoyed by the network of support services catering exclusively to the sector, in areas such as back-office services.
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