The deal — the terms of which were not disclosed — is expected to be completed by the end of the first quarter.

“In River Road, we have found a top-quality equity management business with an impressive track record,” said Alain Dromer, chief executive of Aviva Investors, in a statement.

“It has an experienced management team, a strong customer focus and a scalable operating model. River Road will contribute significantly to our plans to increase our third-party institutional business.”

River Road will continue to be based in Louisville, and its management team will remain in place.

“We are very excited about the opportunities this transaction presents,” James Shircliff, chief executive of River Road said in the statement. “It will allow Aviva Investors to integrate River Road’s equity investment expertise and strong institutional relationships, while allowing River Road to leverage the fixed income capabilities, financial strength and global presence of Aviva Investors.”

Shircliff founded River Road in 2005, along with R. Andrew Beck and Henry W. Sanders, III. The firm is based upon an ‘absolute value’ investment principal with an objective of providing attractive, sustainable returns over the long-term while minimizing downside portfolio risk, the company said.

Shares of Aviva plc, the parent company of the asset management firm, were trading on the New York Stock Exchange at $13.05 a share, up about 1 percent, at 11:15 a.m. CST.