Italian bank buys majority stake in Cairn Capital

Italian investment bank Mediobanca is seeking to expand its asset management capabilities with the acquisition of 51% of Cairn Capital, in a deal that sees the exit of Royal Bank of Scotland, reports Real Estate Capital’s sister publication, Private Debt Investor. The deal to take the 51% stake in credit asset manager and adviser, Cairn Capital, is expected to complete by the end of the year. The parties did not disclose the financial terms of the agreement.