Yieldstreet, a private market investment platform, today announced a definitive agreement to acquire Cadre, an online, real-estate-focused investment platform that serves institutional and high-net-worth investors.
With a collective investment value of more than $9.7 billion, investors have allocated $5.3 billion on the platforms and received $3.1 billion in returns to date. Investors will gain access to a variety of additional asset classes for diversification, and increased liquidity and convenience through proprietary platform capabilities like a secondary market. Together, Yieldstreet and Cadre serve more than 500,000 members across eight institutional and retail distribution channels.
“Yieldstreet set out to create a category eight years ago,” its CEO Michael Weisz said. “Today, we are leading the industry forward and setting the stage for accelerated growth, both organic and inorganic. We will continue to pursue strategic opportunities to increase revenue, enhance profitability, drive operating synergies, and unlock new channels for distribution or exceptional technology.”
“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.”
Yieldstreet absorbs the entire Cadre investments team, led by chief investment officer Dan Rosenbloom. Ryan Williams remains CEO of Cadre and will spearhead a new division focused on broadening access to the institutional audience as Yieldstreet’s global head of institutional partnerships and clients. Industry veteran Mike Fascitelli, an investor in and advisor to Cadre, will serve as the global chairman of real estate and head of Cadre’s investment committee.
“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 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.”
Cadre’s partners include Thrive Capital, Andreessen Horowitz, and Khosla Ventures.