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Schroders takes majority stake in Asian real estate manager

Mergers_and_acquisitions1Schroders has acquired a majority stake in Pamfleet, an Asian real estate investment manager with offices in Hong Kong, Shanghai and Singapore, for an undisclosed sum.

Pamfleet, which has US$1.1 billion (€970 million) of assets under management, will see its entire team of 19 investment professionals remain with the organisation, which will be renamed Schroders Pamfleet.

The acquisition builds on Schroders’ private assets and real estate capabilities following its recent purchases of Blue Asset Management, a real estate specialist in Munich, and Algonquin, a real estate hotels specialist.

Duncan Owen, global head of Schroders Real Estate, said: “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.”

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

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