RBC to Acquire A$18 Billion Australian Asset Manager Yarra Capital

Royal Bank of Canada (RBC) has agreed to acquire Yarra Capital Management, an Australian active asset manager overseeing approximately A$18 billion in assets as of September 30, 2026. Founded in 2017, Yarra specializes in Australian fixed income, equities, and alternative investments, with approximately 75 employees across Melbourne and Sydney. The acquisition will expand RBC Global Asset Management's investment and distribution capabilities while strengthening its presence in Australia and the broader Asia-Pacific region. RBC plans to acquire full ownership of Yarra, with the transaction expected to close in Q1 2027, subject to regulatory approvals and customary closing conditions. The deal aligns with RBC's strategy to diversify its global asset management business beyond North America and broaden its offering to institutional investors and intermediaries.