Posted inM&A

Schroders to acquire majority stake in $1.1bn Asian firm

UK-headquartered Schroders has reached an agreement to buy a controlling stake in Pamfleet. 

The value-add real estate investment manager currently has $1.1bn (€980m) of assets under management across four funds 

The acquisition opens up Pamfleet’s offering to institutional investors in Europe and other regions.

Financial details were not disclosed. Neither was the proportion of the business which was acquired.  

The deal is expected to close in the next few weeks.

Few changes 

Following completion, the 19-strong team will remain with the business, which will be renamed Schroder Pamfleet.  

There will be no changes to the management of the existing Pamfleet funds and the investment team will have access to the broader investment capabilities and distribution network of the wider Schroders business.  

The acquisition reinforced Schroders’ private assets and real estate capabilities, the firm said.  

Duncan Owen, global head of Scroder Real Estate, said that the addition of Pamfleet “complements the existing Schroders offering with real estate and private assets to provide extra choice for new and existing investors”.  

It also builds on the recent acquisition of Munich-based Blue Asset Management and Algonquin, a pan-European value-add real estate hotels team.  

Schroders has identified its private assets business as one of its key strategic priorities.  

As at 31 December 2019, the division had £44.2bn (€48.5bn) in combined assets under management across private equity, infrastructure, microfinance and impact investments, insurance-linked securities and securitised credit.  

Management structure

The board of Schroders Pamfleet will comprise Andrew Moore, chief executive and co-founder of Pamfleet, and Singuz Li, who is a director at the firm; alongside Duncan Owen.

They will be joined by Melinda Knatchbull, chief operating officer of real estate at Schroders, and Amy Cho, chief executive of Schroders Hong Kong.

Managing director Allan Lee and Kelvin Wong will continue to lead teams based in Hong Kong, Shanghai and Singapore. They will be joined by Canon Yau, who will lead the business’s institutional investor relationships.

David Holdsworth and Bruce Walker will cotninue to serve as advisers.

Kirsten Hastings

Kirsten is international editor of Expert Investor and International Adviser. She joined Last Word Media in October 2015. Kirsten has a Masters in Financial Journalism from the...

Part of the Mark Allen Group.