Edmond de Rothschild (Suisse) S.A. has acquired a controlling stake in Cording Real Estate group, a European real estate investment and asset management firm. No financial terms were disclosed. Fried Frank advised Cording on the transaction. Cording’s current management will retain a minority stake in the business while Rodney Bysh will remain CEO of the Cording group.
Fried Frank advises Cording on its sale to Edmond de Rothschild
Edmond de Rothschild (Suisse) S.A. takes over a controlling stake in Cording Real Estate group in order to create a strategic partnership in the real estate sector in Europe.
Founded in 2008, Cording Real Estate group is a German, UK and Benelux real estate investment and asset management firm with Euro 2.3 billion management mandates and 80 employees. Founded in 1953, Edmond de Rothschild group is an independent financial group focused on asset management and private banking with CHF 166 billion of assets under management and 2,700 employees spread across 30 countries. According to the transaction structure, Cording will be combined with the Rothschild affiliate OROX and will manage a portfolio of Euro 7.8 billion assets comprising a total of 11 offices in the UK, Germany, the Netherlands, France and Switzerland. The existing management team of Cording will maintain a minority stake in the group. Rodney Bysh will remain CEO of the Cording group.
Advisor to Cording Real Estate Group:
Fried Frank (Frankfurt/London): Dr. Jürgen van Kann (Corporate/M&A; Frankfurt); Simon Saitowitz (Corporate/M&A; London); Dr. Peter Breschendorf (Corporate/M&A; Frankfurt); Nick Thornton (Tax; London).
Advisor to Edmond de Rothschild Group/OROX:
Baker & McKenzie (London): James Burdett (Corporate); Lucie Rose, Adeel Haque (all Corporate; London).
Background: Fried Frank has advised the Cording group a number of times in real estate transactions and corporate matters in the past.