Schroders Capital has reached agreement to acquire Cairn Real Estate, a real estate fund and asset management business based in the Netherlands with €1.3bn of assets under management.
In a statement on 10 November, Schroders Capital said the deal will enhance its client offering "in a key European growth market, giving access to Dutch real estate expertise with on-the-ground investment talent to meet the growing investment demand from its institutional investors".
Cairn, which is being sold by MPC Capital, a German investment management group focused on renewables, shipping and real estate business, specialises in a range of sectors including logistics, offices and healthcare and is well respected thanks to the strength of its investment proposition and client base.
There is a strong cultural alignment with Cairn, sharing Schroders Capital’s key focus on operational excellence, delivering long term sustainable outperformance for clients with a fully integrated approach to ESG into its investment process."
Established in 2006, Cairn manages assets on behalf of institutional, family office and private equity investors across the risk spectrum. The 26-strong team is co-headed by Pieter Akkerman, Maarten Briët and Sven van Loon. The firm is headquartered in Amsterdam with a satellite office in Haarlem.
Sophie Van Oosterom, Global Head of Real Estate, Schroders Capital, said: "This new partnership is an excellent fit with our existing business. There is a strong cultural alignment with Cairn, sharing Schroders Capital's key focus on operational excellence, delivering long term sustainable outperformance for clients with a fully integrated approach to ESG into its investment process. Cairn's team has an excellent reputation with its clients and we are excited to welcome Cairn's team and our new clients on board."
Pieter Dalderop, Head of Benelux, Schroders, said: "This acquisition delivers a local presence and on the ground investment expertise to support our focus on working in partnership with our clients and investor base to offer market-leading real estate investment solutions."
The acquisition is expected to close in Q1 2022, subject to regulatory approval.