Royal Bank of Canada (RBC) has agreed to acquire Yarra Capital Management, an active asset manager specialising in Australian fixed income, Australian equities, and alternative investment solutions.
Financial specifics of the deal remain undisclosed.
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Founded in 2017, Yarra has offices in Melbourne and Sydney. It had approximately A$18bn ($12.4bn) in assets under management as of 30 September 2026 and employs around 75 people.
Yarra Capital Management executive chairman Dion Hershan said: “After a long and deliberate search to find the right business partner for the future, we are thrilled about our agreement to join RBC.
“The strong cultural alignment between Yarra and RBC is very clear and we share the same fundamental beliefs of serving our clients with compelling products and services, delivering investment excellence and developing and retaining the best talent.”
The deal forms part of RBC Global Asset Management’s efforts to broaden its capabilities and expand its market presence beyond North America.
RBC will acquire full ownership of Yarra, subject to closing conditions, including regulatory approval.
The bank expects to complete the transaction in the first quarter of 2027.
RBC Global Asset Management CEO Damon Williams said: “The investment and distribution capabilities of Yarra are complementary to our asset management business.
“We believe the strength of our investment capabilities that go beyond domestic borders within fixed income, equities and alternatives are well-positioned to support this investor appetite.”
