January 23, 2024 (NEW YORK, New York) — Yieldstreet, a leading private market investing platform, today announced it has completed its acquisition of Cadre, an online, real-estate-focused investment platform that serves institutional and high net worth investors. The transaction was first announced on November 30, 2023.
The acquisition cements Yieldstreet’s leadership in the private market investing platform space and welcomes Cadre’s premier institutional clients, unique investment platform and thousands of high net worth investors.
With a collective Investment Value of more than $9.7 billion across both platforms, investors have allocated $5.3 billion and received $3.1 billion in returns to date.
“We are thrilled to finalize this first-of-its-kind transaction in the alternative investment sector and welcome Cadre’s exceptional investors, team and partners to the Yieldstreet family,” said Michael Weisz, CEO and Founder of Yieldstreet. “By executing the inaugural consolidation of leading platforms in our industry, we have solidified our leadership in this space and accelerated our growth trajectory. As we look to 2024 and beyond, we are excited to offer investors additional institutional-quality investments, enhanced liquidity through a secondary market and new ways to invest in private markets.”
Ryan Williams will continue to lead Cadre as CEO, in addition to serving as Global Head of Institutional Partnerships & Clients. Cadre CIO Dan Rosenbloom and the full Cadre investments group also joined Yieldstreet. Industry veteran Mike Fascitelli will serve as the Cadre Global Chairman of Real Estate and continues to head Cadre’s Investment Committee.
“Joining forces with Yieldstreet marks an exciting milestone in Cadre’s journey. At the heart of this collaboration is our shared vision – increasing access to alternative investments. Cadre’s innovative leadership in the real estate sector and Yieldstreet’s unparalleled slate of investment offerings and asset classes positions us to revolutionize the private market investing experience for both institutional and individual investors,” said Williams. “I’m looking forward to expanding our reach and deepening investor relationships as we integrate with Yieldstreet.”
Cadre’s investors include Thrive Capital, Khosla Ventures, Cordoba Advisory Partners and Andreessen Horowitz. Its institutional client list will accelerate distribution to the institutional channel and bolster Yieldstreet’s existing resources.
The acquisition solidifies Yieldstreet’s position as the leading private market investing platform with Cadre’s roster of institutional-quality real estate investments. Investors will have access to the industry’s broadest range of private market asset classes and a comprehensive investor experience – from tax advantaged accounts and managed portfolios, to proprietary secondary market capabilities and more – all on one unified platform.
Cooley LLP served as legal counsel to Yieldstreet and Davis Polk & Wardwell LLP served as legal counsel to Cadre. Financial terms of the transaction were not disclosed.
With more than 500,000 members, Yieldstreet is a leading private market investing platform, helping investors diversify their portfolios with alternative assets spanning real estate, private credit, legal finance, art and more. The platform is differentiated by its ten asset classes, institutional due diligence standards, strong track record, and commitment to a seamless investor experience.
Zoey Gottlieb / Clare Burrows
Yieldstreet provides access to alternative investments previously reserved only for institutions and the ultra-wealthy. Our mission is to help millions of people generate $3 billion of income outside the traditional public markets by 2025. We are committed to making financial products more inclusive by creating a modern investment portfolio.