Savills Investment Management has picked up a 25% stake in European investment adviser DRC Capital.
DRC has also granted Savills IM a call option to acquire the remaining 75% interest in DRC on the third anniversary of the completion of the initial transaction.
Founded in 2012, DRC is a specialist real estate debt investment adviser with £2bn of assets under management comprising a series of high-yield, senior and whole loan funds.
Its chief executive and managing partner Dale Lattanzio will join the board of Savills IM on completion.
The deal is expected to complete in Q3 this year.
Nick Cooper, chairman of Savills Investment Management, said: “DRC is a high-quality investment advisory firm and this transaction represents an exciting opportunity to add real estate debt products to our portfolio of capabilities.
“This will enhance our service to clients of the group seeking income focused investment opportunities in European real estate.”
In DRC Capital’s last set of results filed at Companies House for the year ended 31st December 2016 it recorded a turnover of £6.4m and operating profit of £5.4m.
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