- YieldStreet has agreed to acquire Cadre. Financial terms of the deal were not disclosed.
- Cadre CEO Ryan Williams will lead YieldStreet’s new division focused on building an institutional audience.
- When the acquisition is finalized, YieldStreet will hold an investment value of more than $9.7 billion and will serve more than 500,000 investors.
Alternative investments platform YieldStreet made its third acquisition today. The New York-based company announced it has picked up real estate investment platform Cadre for an undisclosed amount.
When combined with Cadre, YieldStreet will hold an investment value of more than $9.7 billion and will serve more than 500,000 investors across eight institutional and retail distribution channels. Across the two companies’ platforms, investors have allocated $5.3 billion and have received $3.1 billion in returns to date.
Founded in 2015, YieldStreet offers an alternative investment platform that provides access to a wide range of asset classes– including art, real estate, legal, corporates, consumer, and commercial– via single investments or funds. The company also offers short-term notes on offerings with terms between 3 and 6 months.
Cadre is headquartered in New York and offers its investors fractional commercial real estate investment opportunities, as well as access to funds comprised of multiple commercial real estate holdings. The company was founded in 2014 and had raised $133 million.
“After nearly a decade of building a top-tier real estate investment platform that has generated compelling returns for institutional investors, we are incredibly proud to take the next step in our journey to broaden access to institutional real estate and other alternative asset classes alongside Yieldstreet,” said Cadre Founder and CEO Ryan Williams. “Together with Yieldstreet, we look forward to helping expand institutional distribution and broadening its offering of institutional-caliber products and innovative solutions that reduce friction for investors in private markets.”
Logistically, Ryan Williams will remain CEO of Cadre and will take on a new role as Yieldstreet’s Global Head of Institutional Partnerships & Clients, where he will lead YieldStreet’s new division focused on building an institutional audience. Cadre investor and advisor Mike Fascitelli will serve as the Global Chairman of Real Estate and Head of Cadre’s Investment Committee. The rest of the Cadre team, including Chief Investment Officer Dan Rosenbloom, will also join YieldStreet.
“We will continue to pursue strategic opportunities to increase revenue, enhance profitability, drive operating synergies, and unlock new channels for distribution or exceptional technology,” said YieldStreet CEO Michael Weisz. “Expanding complementary distribution channels and markets beyond the U.S., investment portfolios and capabilities with Cadre is just the beginning. We are thrilled to welcome Cadre to the Yieldstreet family.”