Reuters- Aviva said on Wednesday it had agreed to buy Romanian asset management company Certinvest from its chief executive and a private U.S. firm, the Romanian-American Enterprise Fund (RAEF).
Aviva, which has signed a string of partnership deals and small acquisitions to extend its reach in Europe this year, did not disclose a price for the firm, but said Certinvest had gross assets of 1.1 million euros at the end of June.
Certinvest manages 24 million euros in four open-ended funds — an area of fast growth in Romania — and also offers individual investment accounts for high-net-worth clients.
“This acquisition confirms our clear ambitions for growth in Romania and more broadly in Central and Eastern Europe,” said Tidjane Thiam, chief executive officer of Aviva Europe.
