Schroders Capital, the private assets arm of Schroders launched last year, has completed its acquisition of Netherlands-based asset management firm Cairn Real Estate.

The real estate specialist firm, which has €1.3bn of assets under management, is the latest purchase from Schroders Capital in its bid to expand its client offering in "a key European growth market".

Cairn, which is headquartered in Amsterdam, specialises in logistics, offices and healthcare real estate.

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Sophie Van Oosterom, global head of real estate at Schroders Capital, said: "We are looking forward to harnessing the full potential of Cairn, leveraging its existing strong real estate presence in the Netherlands and more widely in Europe.

"We believe there is a strong cultural alignment between our businesses, focused on operational excellence and delivering long-term sustainable outperformance for clients."

Pieter Dalderop, head of Benelux at Schroders, said the agreement to acquire Cairn was initially announced last November and that the firm is "excited to today confirm the completion of this deal".

"It will further strengthen our local presence and on-the-ground investment expertise as we work in partnership with our clients and investor base to offer market-leading real estate investment solutions," he added.