On March 28, 2014, Affiliated Managers Group (NYSE: AMG) announced that it had reached a definitive agreement with Aviva Investors North America Holdings to acquire Aviva’s stake in Louisville, Kentucky-based River Road Asset Management.
On March 28, 2014, Affiliated Managers Group, Inc. (NYSE: AMG) announced that it had reached a definitive agreement with Aviva Investors North America Holdings, Inc. to acquire 100% of Aviva’s equity interest in River Road Asset Management, LLC. River Road is a Louisville, Kentucky-based asset manager with approximately $11 billion in assets under management on behalf of retail and institutional clients, including mutual funds, endowments, foundations, retirement plan sponsors, corporations, and sovereign wealth funds. River Road will continue its preexisting relationship with AMG’s U.S. retail platform, AMG Funds, which has approximately $80 billion in assets under management and administration. After the transaction is completed, River Road’s management team will continue to own a substantial portion of the business and to manage its daily operations. As part of the transaction, River Road’s executive team and key investment professionals have entered into agreements to remain with the firm. Financial terms of the transaction were not disclosed.
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