Two managers in race to replace Templeton at Romanian fund Proprietatea

Romanian investment fund Fondul Proprietatea (BVB: FP), having in its portfolio stakes in companies such as Salrom and Aeroporturi Bucureşti, announced that, following the selection process for a new alternative investment fund manager, the company has shortlisted two candidates: an AIFM based in Luxembourg, in partnership with a global infrastructure asset manager, and an AIFM based in Luxembourg, in partnership with a Romanian asset management consultancy firm.

The selection process is led by the committee of FP representatives.

The selection process was carried out alongside Deutsche Numis – a member of the Deutsche Bank group – as a consultant and included in-person sessions with the respective AIFMs and their partners, with the objective of assessing the candidates' operational capabilities, proposed strategies and level of understanding of implementation challenges, as well as the legislative and regulatory framework in Romania, according to a report from the BVB.

FP announced last fall that it would begin the selection procedure for a new administrator.

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