Schroders will buy 50.1% of commercial real estate lender RF Eclipse Limited, which currently manages about $300 million for Schroders.
RF Eclipse is owned by RF Group, the family office of Andrew Roberts, former majority shareholder of Multiplex property group.
It specialises in loan origination, loan management and funds management across real estate (commercial, retail, industrial) and construction.
RF Eclipses' current assets sit at $300 million, which includes a mandate for the Schroder Real Estate Debt Fund since November 2019.
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The completion date for the transaction will be around June 30.
RF Eclipse's name will change to Schroder RF. RF Group will retain 49.9% ownership and Schroders and RF will have equal board seats and control.
"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 is incredibly powerful," Schroders Asia Pacific co-chief executive Chris Durack said.
"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. Its standalone structure facilitates a specialised focus in real estate, allowing the Schroders team to remain focused on managing and growing our existing business."