Cordea Savills acquires Frankfurt & Singapore-based SEB Asset Management

Visual from the website of SEB Asset Management

Property consulting group Cordea Savills announced that it will be acquiring the German investment management group SEB Asset Management AG (SEBAM) for 21.5 million euros (S$31.9 million), in cash.

Post the deal, Cordea Savills will be re-branded as Savills Investment Management.

SEBAM, owned by the Swedish banking group SEB, has 148 staff based in Frankfurt and Singapore, with approximately EUR10 billion (S$14.7 billion) of real estate assets under management globally, within a variety of fund structures.

The deal will create an Asia-Pacific investment platform with approximately EUR2 billion (S$3 billion) in assets under management.

Cordea Savills will continue to retain full operational independence, the company said.

Justin O’Connor, chief executive of Cordea Savills, said: “The proposed acquisition of SEB Asset Management complements our strong organic growth and provides an opportunity to create a leading investment manager in Europe and Asia. SEB Asset Management will add to Cordea Savills’ critical mass and enhance our ability to offer investment opportunities to clients globally.”

Michael Flynn, head of South East Asia and Australia at Cordea Savills said: “We see attractive long-term investment opportunities in key markets within the region, such as Singapore, selected Australian markets and Tokyo. The proposed integration of SEB Asset Management’s proven regional investment capabilities to our existing Asian investment platform, will enable us to continue our exciting growth trajectory and deliver attractive products to investors.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.