Canada’s RBC GAM, BCI, QuadReal agree to form $7 bln real estate fund

Canadian asset management firm RBC Global Asset Management Inc. (RBC GAM) has partnered with British Columbia Investment Management Corp. (BCI) and QuadReal Property Group (QuadReal) to form a diversified commercial real estate fund.

The fund, which is expected to be open for investment in the third quarter of 2019, will be established and managed by RBC GAM, the division of Royal Bank of Canada.

BCI noted the new fund will create a portfolio of over 40 of its existing Canadian real estate assets, with a total value in excess of $7 billion.

Moreso, the fund, RBC Canadian Core Real Estate Fund, aims to deliver an attractive income stream and total returns with limited volatility, along with inflation protection and low correlation to other asset classes.