Schroders Investment Management Australia intends to acquire a 50.1% ownership stake in commercial real estate lending specialist RF Eclipse, which will be renamed Schroders RF.
RF Eclipse was an alternative lender to the small to medium end of the real estate market that specialised in investment, development and construction financing across residential, commercial, retail and industrial properties.
It was established in 1999 and operated as an integrated platform with capability across loan origination, loan management and funds management.
It was currently wholly-owned by the RF Group, the family office of Andrew Roberts who was the former majority shareholder of Multiplex property group.
Under the agreement, RF Group would retain 49.9% ownership and both entities would have equal board representation and control.
Chris Durack, Schroders Asia Pacific co-chief executive, 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 was “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,” Durack said.
“Its standalone structure facilitates a specialised focus in real estate, allowing the Schroders team to remain focused on managing and growing our existing business.”
Andrew Roberts, RF Capital principal, said: “Schroder RF represents a key strategic opportunity for our group. With mutually complementary strengths and a clear and aligned strategy, there is a strong foundation for success and growth”.
The proposed acquisition followed the announcement of Centuria Capital expanding into the real estate debt market, with a 50% acquisition of Bass Capital.