This article is from the Australian Property Journal archive
GLOBAL investment manager Schroders has bought a majority stake in Multiplex scion Andrew Roberts’ non-bank commercial real estate lending business RF Eclipse.
Schroders has acquired a 50.1% in RF Eclipse which is currently wholly owned by the RF Group, the family office of Andrew Roberts, former majority shareholder of Multiplex.
Schroders Asia Pacific co-CEO Chris Durack said the opportunity to combine Schroders’ institutional strength in asset management with the deep real estate pedigree and strong knowledge of the family office market demonstrated by RF Group is incredibly powerful.
“The joint venture will enable us to offer new debt solutions to a wider client set, with Schroder RF playing an important role in accelerating Schroders’ private assets strategy in Australia. Its standalone structure facilitates a specialised focus in real estate, allowing the Schroders team to remain focused on managing and growing our existing business.” Durack said.
Andrew Robert
Roberts said Schroder RF investment represents a key strategic opportunity for the group.
“With mutually complementary strengths and a clear and aligned strategy, there is a strong foundation for success and growth,” he said.
Under this agreement, the RF Group will retain 49.9% ownership and both Schroders and RF Group will have equal board representation and control.
Following completion of the transaction, RF Eclipse will be renamed Schroder RF.
Schroder RF will provide Australian investors, including private wealth and family office clients, with broader access to private real estate debt markets.
RF Eclipse currently manages approximately $300 million in assets including assets for the Schroder Real Estate Debt Fund, after securing the investment mandate in November 2019.
Schroders private assets business manages over $85 billion in assets globally including private equity, credit, real estate, infrastructure, insurance-linked securities and impact investing.
Meanwhile Centuria Capital also announced it is entering the real estate lending market.
