Rubens Capital Partners (RCP) has acquired fellow Amsterdam-based asset management firm IBUS to strengthen its presence in the Netherlands and overseas.
The deal – the terms of which were not disclosed - boosts RCP’s assets under management by 25% to €1.5 bn.
Prior to its takeover of IBUS, RCP’s €1.2 bn of assets under management consisted of Dutch residential, office, retail and light industrial properties.
IBUS has been managing €300 mln of assets for high net worth individuals, family offices and institutions, including residential and retail properties in the Netherlands, the US and Germany.
Jan Arend de Vos van Steenwijk, Founding Partner of RCP, said: ‘IBUS is a perfect fit for our business, since it complements our core strengths of managing commercial and residential property assets across the Netherlands. The addition of the IBUS team will enable the RCP platform to serve a broader and more diversified client base better, while opening up new avenues for our fast-growing and ambitious company to expand outside the Netherlands.'
He added: 'Existing IBUS clients will be serviced by a larger team with a stronger network.'
