The acquisition bolsters its private assets and real estate capabilities, following recent purchases of Munich-based real estate specialist Blue Asset Management, and Europe-focused hotel investment and management firm Algonquin.
London-based fund manager Schroders will acquire a majority stake in Pamfleet, a value-add real estate investment manager with offices in Hong Kong and Singapore, for an undisclosed sum, the company announced in a statement on Thursday.
Pamfleet has a strong presence in Asia's real estate market, with $1.1 billion in assets under management across four funds. Its team of 19 investment professionals will remain with the organization, according to the announcement.
The acquisition brings Schroders significant additional industry expertise and geographical reach into some of the largest and fastest-growing Asian real estate markets, which are attractive to its global clientele, and will give Pamfleet access to the broader investment capabilities and distribution network of the wider Schroders business.
Key F0cus
«Pamfleet’s strong presence within the Asian real estate market as a leader in the value-add style complements the existing Schroders offering within Real Estate and Private Assets to provide extra choice for new and existing investors,» Duncan Owen, Global Head of Schroder Real Estate, said about the deal.
The integration of the two firms' capabilities and expertise will «create a force in the Asian real estate market,» Andrew Moore, Pamfleet CEO and co-founder said.
Schroder Real Estate is part of the firm’s private assets business, which is a key strategic priority. This capability includes private equity, infrastructure, microfinance and impact investments, insurance-linked securities and securitized credit and has combined assets under management of £44.2 billion as at 31 December 2019.
