Royal Bank of Canada (RBC) has announced a deal to acquire Australian investment manager Yarra Capital Management Ltd. The acquisition is seen as a strategic move to bolster RBC’s asset management capabilities, according to RBC Global Asset Management CEO Damon Williams. Yarra’s investment and distribution expertise are expected to complement RBC’s existing business.
Yarra Capital Management, founded in 2017, operates out of Melbourne and Sydney. As of September 30, the firm managed approximately A$18 billion in assets. The deal is anticipated to close in the first quarter of 2027, though the financial terms have not been disclosed.
The acquisition involves Yarra’s team of about 75 employees. While the exact financial details remain undisclosed, the deal underscores RBC’s commitment to expanding its asset management footprint in the Australian market.