Andrew Roberts, a prominent figure in construction and property investment, has reduced his ownership stake in Corval Partners, a property funds management firm he previously controlled, by selling a 30 percent interest to Scarcity Partners, an Australian investment manager. This transaction lowers Roberts’ holding from about 70 percent to 40 percent, while he remains involved with Corval and supports the involvement of Scarcity as a strategic partner aimed at accelerating the company’s growth.
Corval Partners, which has managed property investments for major clients including Australia’s Future Fund, is seeking to strengthen its position amid challenges facing the real estate sector. The firm has a 17-year track record with a diversified portfolio spanning office, industrial, and emerging living sectors, managing assets valued at approximately AUD 2.8 billion. Known for combining institutional rigor with a boutique approach, Corval aims to expand its capabilities and market reach with the support of new equity partners.
Rob Rayner, Corval’s co-founder and chief executive, stated that bringing Scarcity on board provides more than capital injection, describing the partnership as a step toward executing a multi-channel investor strategy targeting wealth management, institutional investors, and offshore clients. He underscored the importance of maintaining Corval’s entrepreneurial culture and longstanding industry connections while pursuing long-term growth.
Adrian Whittingham, founder and managing partner of Scarcity Partners, praised Corval's strong track record and leadership, emphasizing the firm’s consistent delivery of positive investor outcomes within direct property markets. Scarcity focuses on growth investments in the Asia-Pacific region, specializing in acquiring stakes in investment management businesses, a practice known as GP (general partner) staking. The firm operates through its Scarcity GP Access Fund.
The partnership aligns with broader trends in the funds management sector, where boutique firms have increasingly sought strategic alliances amid headwinds from rising interest rates and pressures to return capital to investors. Corval and Scarcity plan to collaborate closely on new product development and growth initiatives, positioning themselves to navigate the evolving real estate investment landscape.