Edmond de Rothschild to acquire French property manager
Edmond de Rothschild France has announced the signature of an agreement to acquire French real estate manager Cleaveland.
The deal, subject to regulatory approval, aims to strengthen the real estate capabilities of the private banking group’s subsidiary.
Cleaveland has been founded in 2005 by Laurent Fermaut et Dominique Bonin. It provides real estate funds, property management and asset management services to institutional and private clients.
The boutique has reached a €2.5bn cap of assets under management last year.
Edmond de Rothschild’s group had €150bn of assets under management as at end 2015.