YIELDSTREET COMPLETES CADRE ACQUISITION

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Jan 23, 2024, 12:28 ET

Company accelerates growth ahead of expected industry consolidation

NEW YORK, Jan. 23, 2024 /PRNewswire/ -- 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 billion¹across both platforms, investors have allocated $5.3 billion²and received $3.1 billion³in 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.

About Yieldstreet

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.

Press Contacts:

Zoey Gottlieb / Clare Burrows
Prosek Partners
[email protected]

^{_________________________________}¹ Investment Value equals the combined capitalized transaction value in real estate equity plus committed amounts across all other investments since inception in 2014 and 2015, respectively.
² Represents assets invested on each of Cadre and Yieldstreet platforms by investors, since inception in 2014 and 2015, respectively. Based on unaudited internal calculations, subject to change. Past performance is not indicative of future results.
³ Represents total interest and principal returned to investors on each of Cadre and Yieldstreet platforms since inception in 2014 and 2015, respectively. Based on unaudited internal calculations, subject to change. Past performance is not indicative of future results.

SOURCE Yieldstreet