Aviva Investors to buy River Road Asset Management
January 05, 2010 08:38 AM Eastern Time
DES MOINES, Iowa--(EON: Enhanced Online News)--Aviva Investors, the global asset management business of Aviva plc, has
100% of River Road Asset Management (“River Road”), a leading value-oriented US equity manager based in Louisville, KY.
Alain Dromer, chief executive of Aviva Investors, said, “In River Road, we have found a top-quality equity management business wi
track record. It has an experienced management team, a strong customer focus and a scalable operating model. River Road will co
significantly to our plans to increase our third-party institutional business.”
River Road will form part of Aviva Investors North America (“AINA”), which specializes in institutional fixed income and liability dr
management for insurance companies, public pension funds, foundations and endowments, family offices and other institutional client
headquartered in Des Moines, IA, with offices in New York, Chicago, Manhattan Beach, CA, and Toronto, Canada.
Greg Boal, CEO of AINA, said, “We are very pleased to bring together the complementary capabilities of Aviva Investors and Riv
agreement fulfills Aviva Investors’ strategic objective to add US equities to our longstanding fixed income expertise in North Americ
Road, we will be able to customize a broad range of investment solutions for institutional clients around the world.”
River Road serves domestic and international clients through institutional separate account and investment sub-advisory services. Th
proprietary “Absolute Value” investment philosophy with an objective of providing attractive, sustainable returns over the long-term
downside portfolio risk. River Road has $3.6 billion in assets under management as of November 30, 2009.
“We are very excited about the opportunities this transaction presents,” said James C. Shircliff, CEO of River Road. “It will allow
integrate River Road’s equity investment expertise and strong institutional relationships, while all