Aviva Investors acquires River Road
Aviva Investors, which is the asset management business of Aviva plc, has agreed to acquire River Road Asset Management, a US-based equity manager with $3.6 billion in assets under management.
According to the insurer, the move will combine Aviva Investors’ existing fixed income expertise in North America with River Road’s equity investment capability.
Meanwhile, River Road will benefit from access to the insurer’s fixed income capabilities, financial strength and the global presence of Aviva Investors.
Aviva Investors’ chief executive, Alain Dromer, says: “River Road will contribute significantly to our plans to increase our third-party institutional business and will help us provide our clients with a broader range of investment solutions.”
Following completion of the transaction, River Road’s existing management team will remain, although the business will form part of Aviva Investors North America.
The deal is expected to close in the first three months of 2010.
Category: Aviva News
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