The acquisition is to serve as a springboard for the growth ambitions of RBC Global Asset Management and its commitment to the Australian investment management market
Toronto, 9 November 2026 - Royal Bank of Canada (RBC) (TSX: RY) (NYSE: RY) today announced that it has entered into an agreement to acquire Yarra Capital Management Limited (Yarra), an award-winning active asset manager specialising in Australian fixed income, Australian equities and alternative investment solutions.
Founded in 2017, Yarra has offices in Melbourne and Sydney. As at 30 September 2026, the firm managed assets of around 18 billion Australian dollars and employed around 75 people.
RBC Global Asset Management is focused on expanding its capabilities and diversifying its market share, including outside North America. The announcement underlines RBC’s commitment to growth in Australia and the Asia-Pacific region, and the proposed transaction is expected, once completed, to further strengthen the bank’s position as a leading global asset manager.
According to the release, Damon Williams, CEO of RBC Global Asset Management, said that Yarra’s investment and distribution capabilities complement RBC’s asset management business and that Yarra’s reputation in Australian fixed income and equities reflects a strong investment track record and a client-first culture. Dion Hershan, Executive Chairman of Yarra Capital Management, said that after a long and careful search for the right partner, Yarra is very pleased to become part of RBC and that its leadership, including the managing partners, looks forward to growing as part of RBC GAM. (Quotes paraphrased from the German-language release.)
Under the terms of the agreement, RBC will acquire full ownership of Yarra, subject to the satisfaction of certain closing conditions, including regulatory approval. RBC expects the transaction to close in the first quarter of 2027. The transaction is not expected to have a material impact on RBC’s Common Equity Tier 1 (CET1) ratio or future run-rate earnings.
This text was automatically translated from the German original.