RBC agrees to acquire Australian asset manager Yarra Capital

RBC reaches agreement with Yarra Capital

Royal Bank of Canada announced on November 9, 2026, that it has entered into an agreement to acquire Yarra Capital Management Limited, an Australian asset manager specializing in fixed income, equities and alternative investment solutions. The proposed acquisition is subject to regulatory approval and other closing conditions, and RBC anticipates completion in the first quarter of 2027.

Yarra was founded in 2017 and operates from offices in Melbourne and Sydney. The company reported approximately A$18 billion in assets under management as of September 30, 2026, and approximately 75 employees.

Proposed expansion in Australia and Asia-Pacific

RBC said the transaction would expand the capabilities and market diversification of RBC Global Asset Management, including beyond North America. Damon Williams, CEO of RBC Global Asset Management, said Yarra’s investment and distribution capabilities were complementary to RBC’s asset-management business and that its reputation in Australian fixed income and equities supported a broader international offering.

Dion Hershan, Executive Chairman of Yarra Capital Management, said Yarra’s senior management, including management shareholders, supported the agreement with RBC. He also described cultural alignment between the two businesses and said they shared beliefs concerning client service, investment performance and employee development.

Financial impact remains limited under current expectations

RBC said the proposed transaction was not expected to have a significant impact on either its common equity Tier 1 ratio or future run-rate earnings. That statement was based on the company’s expectations before completion of the pending acquisition and did not establish any realized financial effect.

The reviewed reports did not disclose the cash purchase price, funding terms or allocation of consideration between cash and other forms of payment. Accordingly, no cash payer, cash recipient or share-transfer transaction can be identified from the available evidence.