The acquisition of this
real estate investment company, which is subject to approval from France’s
Financial Markets Authority, will significantly broaden Edmond de Rothschild’s
real estate investment offer for its private and institutional clients.
Set up in 2005 by Laurent Fermaut and Dominique Bonin, Cleaveland is the largest independent real estate investment company for third party investors. It covers the entire real estate value chain: management of real estate mutual funds, asset management and property management.
The company has more than EUR 2.5bn under management and employs over 20 professionals. Its clients include large family offices and private equity funds.
For Vincent Taupin, Chairman of the Executive Board at Edmond de Rothschild (France): "Real Estate is an essential investment for our private and institutional clients. After buying a real estate M&A and advisory business run by Inès Reinmann in 2014, our purchase of Cleaveland's investment and assetmanagement businesses will complete our real estate investment offer."
Laurent Fermaut and Dominique Bonin, Cleaveland's founding partners, said: "We are delighted to be joining Edmond de Rothschild. It is a particularly strong brand name with offices throughout the world and the numerous synergies with the Group's private banking and asset management arms will help us boost our client base."