PineBridge Exits Waberer’s Group

PineBridge Investments has sold its minority stake in Central European transportation and logistics company Waberer’s Group. Terms of the deal were not released. PineBridge manages $81 billion in assets for institutional and individual clients across listed equity, fixed income, private equity and hedge fund strategies.

PineBridge Investments, the global multi-asset class investment manager, today announces that it has sold its minority stake in Waberer’s Group.

The Waberer’s Group is the leading transportation and logistics service provider in Central Europe, offering tailor-made transportation, freight forwarding, distribution, and logistics services. The firm has the largest fleet of trucks and trailers in Central Europe and one of the biggest and most modern warehousing facilities in the region.

“With PineBridge’s financial resources and hands-on approach to creating long-term value, the management team of the Waberer’s Group has been able to implement a regional expansion strategy in recent years. When we invested into the Waberer’s Group, it was the leading international road transportation company in Hungary. Over the course of our investment, the company grew significantly, and it is now the leading transportation and logistics company in Central and Eastern Europe, with a presence in 5 countries through wholly owned subsidiaries,” said Geza Szephalmi, Managing Director of PineBridge Investments Central Europe.

Mr. Gyorgy Waberer, Founder, Chairman and CEO of Waberer’s Group said, “We are pleased to have been able to work closely with the team at PineBridge, and I believe that the mutual trust we built served as a solid foundation for creating significant value for the company over the term of our partnership with them”.

Pierre Mellinger, President and CEO of PineBridge Investments Central Europe, said, “Our cooperation with Mr. Waberer is further evidence of the success that the PineBridge Investments team has experienced over the past 10 years in supporting the growth of the top entrepreneurs across Central Europe. We are confident that Mr. Waberer will continue the successful expansion of the company with his new partners. I am pleased that PineBridge remains focused on providing active support to top entrepreneurs and companies across the region through continued investment in new opportunities.”

About PineBridge Investments:
PineBridge Investments manages US$81 billion in assets for institutional and individual clients across an extensive platform of listed equity, fixed income, private equity and hedge fund strategies. With more than 800 employees in 31 countries and jurisdictions, as of 31 March 2011, PineBridge Investments’ strong global network captures local market knowledge and identifies potential opportunities for the benefit of investors around the world.