BUCHAREST - Fondul Proprietatea S.A., a Romanian investment fund, has announced the shortlisting of five candidates in its search for an alternative investment fund manager (AIFM). The selection process, overseen by the fund's Board of Nominees, follows a call for expressions of interest that concluded on Monday last week.
The candidates vying for the AIFM role include three diversified global asset managers, a global infrastructure asset manager, and a Romania-based asset manager. The Board, in collaboration with its selection advisor Deutsche Numis, will assess the submissions based on criteria set by the shareholders during the General Meeting held on September 27, 2024.
The next step in the selection process is the submission deadline for candidate proposals, scheduled for the upcoming Thursday. Once all proposals are received and reviewed, the Board of Nominees will provide an update to investors.
This development is part of Fondul Proprietatea's ongoing efforts to optimize its management structure. The fund, which is listed on both the Bucharest Stock Exchange with shares and the London Stock Exchange (LON:LSEG) with Global Depositary Receipts (GDRs), is known for its significant market presence in Romania.
Investors and stakeholders are closely watching the selection process, as the appointment of a new AIFM could influence the fund's strategic direction and performance. The selected AIFM will be responsible for managing the assets of Fondul Proprietatea, which has a substantial share capital amounting to RON 1,849,342,164.28.
The information regarding the AIFM selection process is based on a press release statement from Fondul Proprietatea. Further updates are expected following the evaluation of the full proposals from the interested parties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.