BUCHAREST – Fondul Proprietatea SA, a Romanian investment fund, announced progress in its search for an alternative investment fund manager (AIFM). Following a resolution of the Ordinary General Meeting of Shareholders (OGMS) on September 25, 2023, the fund’s Board of Nominees (BoN) has completed an initial review of two AIFM candidates.
The search began with submissions from a global infrastructure asset manager and a European-based AIFM in collaboration with a Romanian asset management consultancy firm. The selection process, assisted by Deutsche Numis, respects the criteria established by Fondul’s shareholders at the General Meeting held on September 27, 2024.
The BoN must now carry out additional due diligence on these candidates and will meet in February 2025 at the selection advisor’s office. The purpose of these meetings is to further evaluate the submissions and seek clarification. In accordance with shareholder guidelines, only applicants who are, or are part of a consortium with, an EU regulated AIFM will be considered for selection.
A further update on the selection process will be communicated to investors once the BoN has completed its review. This continued effort reflects Fondul Proprietatea’s commitment to fulfilling its shareholder’s mandate in selecting a qualified AIFM.
Fondul Proprietatea, listed on the Bucharest Stock Exchange by shares and London Stock Exchange (LON:) with Global Depositary Receipts (GDR), is managed by a board of directors dedicated to maximizing shareholder value and ensuring regulatory compliance. The transparent fund selection process for an AIFM constitutes a crucial step in its strategic operations, aimed at improving its investment management capabilities.
This news is based on a press release from Fondul Proprietatea SA
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