Edmond de Rothschild to acquire majority stake in Cording Real Estate Group

Edmond de Rothschild (Suisse) S.A., via its affiliate OROX Europe, has agreed to acquire a majority stake in Cording Real Estate Group, a German, U.K. and Benelux Real Estate investment and asset management firm with €2.3 billion ($2.7 billion) management mandates and 80 employees. Cording’s activities include investment management, asset management and property management.

This transaction will further strengthen the Edmond de Rothschild Real Estate franchise, currently managed by the Group’s affiliates CLEAVELAND in France and OROX in Switzerland and Northern Europe, by adding scale and entry to new markets. The strategic partnership will combine €7.8 billion ($9.2 billion) of assets and 125 employees, with 11 offices in the United Kingdom, Germany, the Netherlands, France and Switzerland.

Under the terms of the agreement, Cording’s existing management team will remain as minority shareholders. Rodney Bysh will remain as CEO of Cording Real Estate Group, while John Partridge will remain chairman of the Cording business.

The acquisition is subject to regulatory approvals and is expected to complete in the final quarter of 2017.