Renaissance Asset Managers has soft-closed its Sub-Saharan Fund at $150 million (€113 million) to preserve liquidity and protect existing investors.
Adrian Harris, head of distribution and investor relations, says managing daily liquidity is “still fairly challenging”.
With the fund being soft-closed, Renaissance Asset Managers will stop promoting the fund, although it will be kept open for existing investors. Harris says it will be closed to all investors once assets under management reach $200 million.
“We believe that tightly-managed capacity allows our institutional investors to access the best investment opportunities without sacrificing liquidity,” he adds.
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