Asset management major Schroders has bought a majority stake in $1.1bn-managing Asian real estate investor Pamfleet.
Pamfleet, which has offices in Hong Kong, Shanghai and Singapore, closed its most recent fund last year on $450m.
The entire Pamfleet team of 19 professionals will remain with the organisation, which will be renamed Schroder Pamfleet following the buyout.
Schroders said the acquisition reinforces its private assets and real estate capabilities, building on the recent purchases of Blue Asset Management, the value-add real estate specialist in Munich, and Algonquin, the pan-European value-add real estate hotels team.
Duncan Owen, global head of Schroder Real Estate, said, “Pamfleet is a high-quality business with a clear investment thesis and an experienced team of investment professionals.
“Since it was founded in 2000, it has had an excellent performance track record in some of the highest value and most dynamic real estate markets in the world. These markets are attractive to many of our partners and clients.
“We are therefore delighted to join forces and create Schroder Pamfleet. 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.”
Schroders’ private assets business, which includes private equity, infrastructure, microfinance and impact investments, insurance-linked securities and securitised credit, had £44.2bn of assets under management at the start of the year.
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