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Edmond de Rothschild takes majority stake in real estate AM group

Edmond de Rothschild takes majority stake in real estate AM group

Edmond de Rothschild (Suisse) has formed a strategic alliance with real estate investment and asset management firm Cording Real Estate Group.

Through its affiliate OROX Europe, the Swiss business has agreed to acquire a majority stake in Cording, which has €2.3 billion in management mandates and 80 members of staff.

The agreement bolsters the Edmond de Rothschild Real Estate franchise, which is currently managed by the group’s affiliates – Cleaveland in France and Orox in Switzerland and Northern Europe.

Once the transaction is completed, the real estate unit will have a combined total of €7.8 billion in assets and 125 employees across 11 offices in the UK, Germany, the Netherlands, France and Switzerland.

The acquisition is subject to regulatory approval but is expected to be completed in the final quarter of 2017.

As part of the terms of the strategic partnership, Cording’s management team will remain as minority shareholders, while CEO Rodney Bysh will keep his position. John Partridge will continue as chairman of the business.

The German, UK and Benelux real estate firm is active in investment management, asset management and property management.

Ariane de Rothschild, president of the Edmond de Rothschild Group executive committee, said: ‘Cording’s activities and team complete our real estate offering and give us immediate access to three new markets in Northern Europe, while positioning us as a key player in the real estate investment and asset management market.’

Speaking about Cording’s growth over the years, Bysh said: ‘Since the formation of the company in 2008, the management team has sought to build a comprehensive Northern European investment platform with the depth and expertise to provide investors with best-in-class deals and investment strategies.’

 

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