Ramius, the investment management business of Cowen Group, is to enter into a long-term extension of its partnership with portfolio managers Norman Milner and D Richard Dowdle.
Thomas W Strauss (pictured), president and chief executive of Ramius, says: “It is a part of Ramius’s strategy to enable successful portfolio managers to become partners in their businesses while maintaining a significant interest in their continued successes. We believe this partnership will allow for broader opportunities for the business and its investors going forward.”
The funds managed by Milner and Dowdle will operate under the name Orchard Square Partners, and will remain committed to operating a global long/short credit strategy, with a focus on long-term capital appreciation and capital preservation through challenging markets. Since the funds launched in 2009, the investment team has invested in corporate credit across large, liquid capital structures.
Milner says: “We believe that the current environment in global long/short credit provides investors with an attractive opportunity to deploy capital defensively and we look forward to pursuing those investments under our new brand. We are pleased to extend our partnership with Ramius, both as an investor and for the operational and distribution platform they will provide for the funds.”