Aviva Investors completes purchase of River Road Asset Management
5 March 2010
(Des Moines) - Aviva Investors, the global asset management business of Aviva plc, has completed its purchase of River Road Asset Management (“River Road”), a leading valueoriented US equity manager based in Louisville, KY. The agreement to purchase River Road was announced on January 5, 2010.
Alain Dromer, chief executive of Aviva Investors, said, “The addition of River Road's equity expertise to our existing fixed income capabilities is a significant step in the development of our business in North America. The diversification of our US-based investment offering is an important component of our global strategy to grow our institutional asset management business, and I am delighted that we have achieved this milestone.”
River Road will form part of Aviva Investors North America, which offers customized asset management solutions for insurance companies, public pension funds, foundations and endowments, family offices and other institutional clients. The North America headquarters is in Des Moines, IA, with offices in New York, Chicago, Manhattan Beach, CA, and Toronto, Canada.
River Road serves domestic and international clients through institutional separate account and investment sub-advisory services. The company uses a proprietary “Absolute Value” investment philosophy with an objective of providing attractive, sustainable returns over the long-term while minimizing downside portfolio risk. River Road’s management team will remain unchanged, and the company will maintain the integrity and autonomy of its investment process. River Road will continue to be based in Louisville.
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Contact: Barry Schneider Vice President, Communications Aviva Investors North America
Notes to Editors
Aviva Investors is the global asset management business operated by affiliates of Aviva plc, the world’s fifth-largest insurance group.
1. The affiliates operate under a single brand with more than 1,300 employees in 15 countries across Asia Pacific, Europe, the UK and North America. Aviva Investors affiliates manage more than $403 billion worldwide.
2. No Aviva Investors affiliate is engaging in or holding itself out as engaging in the business of advising others as to investing in securities or the business of buying or selling securities in any jurisdiction where it is not qualified to do so.
1 – As of December 31, 2008 2 – As of December 31, 2009
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