Fondul Proprietatea advances AIFM selection process

BUCHAREST – Fondul Proprietatea S.A., a Romanian investment fund, has announced progress in its search for an alternative investment fund manager (AIFM). Following a resolution from 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 advisory firm. The selection process, assisted by Deutsche Numis, adheres to criteria established by Fondul’s shareholders during a General Meeting held on September 27, 2024.

The BoN is now set to perform additional due diligence on these candidates and will hold meetings in February 2025 at the selection advisor’s office. The purpose of these meetings is to further evaluate the submissions and seek clarifications. Consistent with shareholder directives, only candidates that are, or are part of a consortium with, an EU-regulated AIFM will be considered for selection.

A subsequent update on the selection process will be communicated to investors after the BoN completes its review. This ongoing effort reflects Fondul Proprietatea’s commitment to fulfilling its shareholder’s mandate in the selection of a qualified AIFM.

Fondul Proprietatea, listed on the Bucharest Stock Exchange with shares and on the London Stock Exchange (LON:) with Global Depositary Receipts (GDRs), is managed by a board dedicated to maximizing shareholder value and ensuring regulatory compliance. The fund’s transparent selection process for an AIFM is a critical step in its strategic operations, aiming to enhance its investment management capabilities.

This news is based on a press release statement from Fondul Proprietatea S.A.

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