Schroders to acquire stake in US$1.1bn Asian real estate investment manager

Schroders to acquire majority stake in US$1.1bn Asian real estate investment manager

Schroders announced that it has reached an agreement to acquire a majority stake in Pamfleet, a real estate investment manager with offices in Hong Kong, Shanghai and Singapore.

Pamfleet currently has US$1.1 billion of assets under management across four funds, the most recent of which closed last year at US$450 million. Following completion, the entire Pamfleet team of 19 professionals will remain with the organisation, which will be renamed Schroder Pamfleet.

“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,” said Duncan Owen, Global Head of Schroder Real Estate.

“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,” he added.

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“We are excited about joining Schroders in the real estate business of its private assets division, which is forging a global reputation for offering outstanding client service and delivering a strong investment track record,” said Andrew Moore, Chief Executive officer and co-founder of Pamfleet.

“The combination of Schroders’ heritage and global footprint with Pamfleet’s local knowledge will create a force in the Asian real estate market. As we integrate Schroder Pamfleet into the wider Schroders group capabilities, we believe we will be able to offer a very attractive proposition to our investors,” he added.

Schroder Real Estate forms part of Schroders’ private assets business which is a key strategic priority for the firm. This capability includes private equity, infrastructure, microfinance and impact investments, insurance-linked securities and securitised credit and has combined assets under management of £44.2 billion as at 31 December 2019.

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