What Real Asset Management does

Real Asset Management (RAM) is an Australian alternative asset manager founded in 2010 and headquartered in Sydney, managing approximately A$8.5 billion in assets under management across credit, real estate, and private equity strategies for institutional investors and high net worth families globally. The firm operates a fully integrated investment platform through 25+ strategies and 7 offices across Australia, New Zealand, Hong Kong, Shanghai, and Manila, with 250+ finance professionals and 100% employee ownership. Its product suite spans ASX-listed vehicles (RAM Essential Services Property Fund, ticker REP; RAM Secured Income Notes, ticker RAMHA), unlisted credit funds (Real Income Fund, RAM Australia Credit Fund AUD/USD), direct property funds (Healthcare Opportunity Fund, Diversified Property Fund, 333 Ann Street Trust), private equity co-investments, and bespoke wealth management with minimums from A$25,000 to A$2,000,000 depending on strategy.

The firm's core technology and operating infrastructure is anchored by Brighten, its wholly-owned non-bank lending subsidiary, which manages the full loan lifecycle (origination, underwriting, servicing, funding) of Australian residential mortgages, supported by a $4bn+ funding platform spanning 8 Australian and global investment bank warehouse lines. Brighten has written over 10,000 loans since 2017 and raised $5.5bn across nine public RMBS transactions, providing RAM's credit funds with proprietary deal flow and end-to-end risk control. Real estate capabilities include healthcare-focused acquisitions (notably the A$51.25m Nundah precinct in May 2024 and the Cleveland site for A$6.5m) anchored by long-lease tenants such as Ramsay Health Care, iHM, and Queensland X-Ray, plus a JV with a South-East Asian sovereign wealth fund seeded in November 2023.

Revenue is generated primarily through recurring management fees on AUM (0.50%-0.75% p.a. depending on strategy), supplemented by carried interest on private equity exits (9 of 26 investments exited since 2017) and performance fees on the Healthcare Opportunity Fund (16-18% target IRR). Distribution is multi-channel: dedicated client advisors across Asia-Pacific, six major Australian platforms (Mason Stevens, Praemium, Netwealth, AMP North, CFS Edge, Macquarie), ASX listing for retail and wholesale access, and a Joint Lead Manager syndicate (Westpac, Ord Minnett, Taylor Collison, FIIG, Shaw & Partners) for debt issuance. The firm's investor base spans HNW individuals, family offices, superannuation funds, sovereign wealth co-investors, and Australian SIV/188C visa applicants via the 188 Universal Account.

Name

Real Asset Management

Legal name

Real Asset Management Pty Limited

Website

https://ramgroup.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

101–250 employees

Short description

Real Asset Management is an Australian alternative asset manager founded in 2010, managing ~A$8.5bn across credit, real estate, and private equity strategies for institutions and wealthy families globally, with 250+ professionals across 7 Asia-Pacific offices.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Asset-Backed Securities (6189), Investment Advice (6282), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Managed Account Platforms (Separately Managed Accounts / Customized Portfolios) (FSAHAKAC)

akta.pro secondary industries

Senior Secured Direct Lending (FSANADAA), Managed Accounts & Unified Managed Accounts (UMAs) — Multi-Asset (FSAAAJAE)

Keywords

• Alternative asset management
• Private credit funds
• Real estate investment
• Wealth management services
• Private equity investing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees - Real Estate Funds: RAM earns management fees calculated as a percentage of assets under management across its real estate funds including the ASX-listed RAM Essential Services Property Fund (REP), RAM Australia Healthcare Opportunity Fund, and RAM Australia Diversified Property Fund. Fee rates vary by fund (e.g., 0.75% p.a. excluding GST for the Diversified Property Fund).
2. Management Fees - Credit Funds: RAM earns ongoing management fees on credit strategies including the Real Income Fund (0.50% p.a.) and RAM Australia Credit Fund. Fees are calculated as a percentage of fund net asset value and deducted periodically.
3. RAM Secured Income Notes - Issuer Fees: RAM Income Capital Limited issues ASX-listed RAMHA secured income notes. RAM as Investment Manager earns fees for managing the underlying loan portfolio and securitised investments. The notes provide regular monthly income at BBSW + 3.00% p.a.
4. Private Equity - Carried Interest: RAM's private equity strategy targets expansion-stage Australian companies, investing through VCLP structures. Returns include management fees and carried interest on successful exits. Target aggregate annualised IRR on unlisted investments is 30% p.a.
5. Wealth Management - Advisory Fees: RAM provides bespoke wealth management services to wholesale clients through dedicated advisors, offering personalised investment programs with minimum investment of $500,000 AUD for standard portfolios and $2,000,000 AUD for bespoke portfolios. Revenue is generated through platform fees, investment management fees, and advisory service charges.
6. SIV/188C Complying Fund Management: RAM manages the 188 Universal Account structured to meet Significant Investor Visa (188C) and Investor Visa (188B) complying investment requirements, earning management fees on funds under administration across this structured product.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels11 records

Core offering

Real Asset Management (RAM) is an Australian alternative asset manager that provides institutional-grade investment solutions across Credit, Real Estate, and Private Equity to institutional investors and wealthy families globally. The firm manages approximately A$8.5 billion in assets through 25+ investment strategies, supplemented by a wholly-owned non-bank lending subsidiary (Brighten) and a dedicated wealth management advisory practice.

Product overview

Real Asset Management (RAM) is an Australian alternative asset manager offering a comprehensive suite of investment solutions across Credit, Real Estate, and Private Equity for institutions and wealthy families globally. The product portfolio includes: Credit products (RAM Real Income Fund, RAM Secured Income Notes ASX:RAMHA, RAM Australia Credit Fund with AUD and USD classes, and RAM Australian Diversified Fixed Interest & Credit SMA); Real Estate products (ASX-listed RAM Essential Services Property Fund ASX:REP, RAM Australia Healthcare Opportunity Fund, RAM Australia Diversified Property Fund, and RAM 333 Ann Street Trust); Private Equity investments targeting Australian expansion-stage companies; Wealth Management solutions including Global Multi Asset Class Portfolios and 188 Universal Account for visa compliance; and Brighten as a subsidiary non-bank lender. RAM manages approximately A$8.5 billion in assets across 25+ investment strategies through 7 offices globally.

Differentiator

Problem solved

Functional benefit

Brands

• Brighten: Non-bank lender backed by RAM Group, focusing on prime and non-conforming (self-employed) residential home loans.

Products and services

• RAM Real Income Fund Provides investors with an enhanced income stream through Australian secured credit with a target return of RBA cash rate + 4.0%. The fund offers monthly distributions from exposure to a diversified pool of first-ranking residential mortgages with average LVR below 63%. Minimum investment AUD 10,000.
• RAM Secured Income Notes (ASX: RAMHA) ASX-listed senior secured notes providing regular monthly income with target return of BBSW 1M + 3.00% p.a. (stepping up to BBSW 1M + 3.25% p.a. after 5.5 years). Face value $100 per note; maturity 6.5 years from issue. Distributions paid monthly in arrears.
• RAM Australia Credit Fund Provides regular income through secured Australian property credit with five investment options (Flexi Account, Notice Account, 6-Month Fixed Term, 12-Month Fixed Term, High Yield Account) offering target returns ranging from 2.37% to 6.35% p.a. Minimum investment AUD 100,000.
• RAM Australia Credit Fund USD Class USD-denominated investment option providing attractive USD income stream with capital stability through a diversified portfolio of Australian mortgages and securities with full capital FX hedge into AUD. Minimum investment USD 100,000. Quarterly income payments in USD.
• RAM Australian Diversified Fixed Interest & Credit SMA Actively managed Separately Managed Account providing diversified portfolio blending security types from government bonds to hybrid subordinated securities with ESG exclusions. Minimum SMA $25k, MDA $500k. Portfolio gross yield to maturity: 5.94%.
• RAM USD Diversified Fixed Income Strategy Directly held portfolio of securities issued by major global financial institutions with 15-25 concentrated holdings, multi-currency exposure, and daily valuation with T+5 liquidity.
• RAM Essential Services Property Fund (ASX: REP) ASX-listed A-REIT investing in high-quality Australian medical and essential retail real estate assets leased to essential services tenants. Provides stable income with potential for capital growth through a defensive portfolio.
• RAM Australia Healthcare Opportunity Fund Open-ended property fund building portfolio of premium healthcare real estate assets in Australia through asset repositioning and development. Targets 16-18% total return (3-year IRR) with 4-6% distribution. Minimum investment $50,000.
• RAM Australia Diversified Property Fund Diversified direct property investment across defensive sectors including office, retail, industrial and alternative assets in Australia with target yield of 6.00% p.a. payable quarterly. Management fee: 0.75% p.a. excluding GST.
• RAM 333 Ann Street Trust Open-ended unit trust offering access to A-Grade Brisbane CBD office tower at 333 Ann Street. Targets 15-16% total return with 7-8% annual distribution. Minimum investment $50,000. Minimum investment horizon: 5 years.
• RAM Private Equity Private equity strategy focusing on Australian companies at expansion stage seeking growth capital. Targets aggregate annualised IRR of 30% p.a. with approximately 2.33-year average duration. 26 investments made since 2017 with 9 exits via IPO or trade sale.
• RAM Global Multi Asset Class Portfolios Customised multi-asset class portfolios with various risk profiles (Balanced, Growth, High Growth) providing globally diversified investment solutions with flexible liquidity. Standard portfolio minimum $500,000 AUD; bespoke portfolio minimum $2,000,000 AUD.
• 188 Universal Account (188UA) Complying investment solution for Significant Investor Visa (Subclass 188C) and Investor Visa (Subclass 188B) applicants, providing compliant portfolio structure with flexible investment options meeting Department of Home Affairs requirements.
• RAM Education Investment Plan – Insurance Bond Insurance bond investment solution for education funding with tax-effective structure.
• Brighten (Non-Bank Lender) Full-service non-bank lender backed by RAM, focusing on prime and non-conforming (self-employed) residential home loans. Manages full loan lifecycle including origination, underwriting, servicing and funding with 8 institutional funding lines.

Quantifiable outcome

• 0% losses within credit strategies and 0% drawdowns in NAV across all credit funds over 8+ year track record
• +6 more outcomes

Named customers16 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature5 records

Partnerships

23 partnerships are on record, tiered core and minor.

• Invest New ZealandcoreStrategic or Co-development Partner · 19 May 2026RAM hosted an investor briefing in Hong Kong with Invest New Zealand to promote New Zealand's Active Investor Plus (AIP) Visa programme. The event targeted offshore investors and distribution partners, highlighting RAM's approved investment funds including the RAM New Zealand Credit Fund as pathways for investors seeking to direct capital into New Zealand's private credit market and real economy. Immigration New Zealand had received 688 applications as of 5 May 2026 representing $4.015 billion potential minimum investment.
• Ord Minnett LimitedcoreChannel Partner/ Reseller/ DistributorOrd Minnett Limited served as Joint Arranger and Joint Lead Manager for the RAM Secured Income Notes (ASX: RAMHA) offering. As a leading Australian stockbroking and advisory firm, Ord Minnett distributes RAMHA to its client base of wholesale and institutional investors.
• Taylor Collison LimitedcoreChannel Partner/ Reseller/ DistributorTaylor Collison Limited acted as Joint Arranger and Joint Lead Manager for the RAM Secured Income Notes (ASX: RAMHA) offering, supporting distribution to wholesale and institutional clients.
• FIIG Securities LimitedcoreChannel Partner/ Reseller/ DistributorFIIG Securities Limited acted as Joint Lead Manager for the RAM Secured Income Notes (ASX: RAMHA) offering, distributing to its network of wholesale investors and financial advisers.
• Shaw and Partners LimitedcoreChannel Partner/ Reseller/ DistributorShaw and Partners Limited acted as Joint Lead Manager for the RAM Secured Income Notes (ASX: RAMHA) offering, distributing to its high net worth client base.
• Henley Underwriting & Investment Company Pty LtdcoreChannel Partner/ Reseller/ DistributorHenley Underwriting & Investment Company Pty Ltd (AFSL 260967) acts as the Authorised Intermediary for the RAM Secured Income Notes, facilitating the broker firm offer distribution process.
• The Trust Company (Australia) LimitedcoreOthersThe Trust Company (Australia) Limited acts as Note Trustee for the RAM Secured Income Notes, safeguarding noteholder interests and ensuring compliance with the terms of issue.
• MUFG Corporate Markets (AU) LimitedcoreOthersMUFG Corporate Markets (AU) Limited serves as Share Registry for the RAM Secured Income Notes, managing noteholder records and distribution payments from their Sydney office at Liberty Place, Level 41, 161 Castlereagh Street, Sydney NSW 2000.
• Melbourne Securities Corporation LimitedcoreOthersMelbourne Securities Corporation Limited acts as Trustee for the Real Income Fund (ACN 160 326 545), providing independent oversight and investor protection for the credit fund.
• Equity Trustees LimitedcoreOthersEquity Trustees Limited (ABN 46 004 031 298, AFSL 240975) acts as Responsible Entity/Trustee for the RAM Australia Diversified Property Fund, RAM 333 Ann Street Trust, and RAM Australia Healthcare Opportunity Fund. It is a subsidiary of EQT Holdings Limited (ASX: EQT), a publicly listed company, providing institutional-grade governance and oversight.
• Apex Fund Services Pty LtdcoreOthersApex Fund Services Pty Ltd acts as Custodian for the Real Income Fund, providing secure custody of fund assets separate from the manager's own assets.
• SS&C Solutions Pty LimitedcoreOthersSS&C Solutions Pty Limited acts as Registry for the Real Income Fund, managing investor records and subscription/redemption processing.
• Pitcher PartnerscoreOthersPitcher Partners serves as Auditor and Tax Advisor for the RAM 188 Universal Account (SIV complying fund), providing independent financial audit and tax advisory services for the fund structure.
• MainstreamcoreOthersMainstream serves as Administrator and Custodian for the RAM 188 Universal Account, managing fund administration, investor records, and custody of assets under the complying investment framework.
• Acorn CapitalcoreStrategic or Co-development PartnerRAM partners with Acorn Capital for private equity investment activities. RAM and Acorn Capital have made 26 investments in portfolio companies since 2017, with nine exits via IPO or trade sale generating strong returns for investors. All investments are made through Australian Venture Capital Limited Partnerships (VCLP) compliant with the VCPE component of the SIV program.
• BNP ParibascoreOthersBNP Paribas serves as main custodian for RAM's wealth management client assets. BNP Paribas is one of the world's leading financial institutions, headquartered in Paris with 190,000+ employees in 70 countries. Named World's Best Global Corporate Bank by Global Finance in 2013.
• National Australia Bank (NAB) and CitibankcoreOthersFor RAM's Global Multi Asset Class Portfolios, assets are held in safe custody with National Australia Bank (Australian Assets) and Citibank (Global Sub-Custodian), providing institutional-grade asset protection for client portfolios.
• Moody'scoreOthersMoody's conducted a risk assessment of the RAM Secured Income Notes (RAMHA), providing independent credit evaluation of the note structure and underlying Australian mortgage credit portfolio.
• Bond Adviser ResearchcoreOthersBond Adviser Research produced a security recommendation report on the RAM Secured Income Notes (RAMHA), providing independent research coverage for financial advisers and wholesale investors.
• Australian State/Territory GovernmentscoreOthersState and Territory governments of Australia participate in the SIV/188C nomination process, where prospective migrants must obtain state nomination before applying for the visa. RAM's 188 Universal Account is designed to meet the complying investment requirements for each state/territory's designated investment framework.
• Brighten Home Loans / Brighten Financial Pty LtdcoreStrategic or Co-development PartnerBrighten is a wholly-owned subsidiary of RAM Group and acts as the loan originator and servicer for all mortgage credit investments across RAM's credit funds and the RAMHA notes. Brighten has written over 10,000 loans since 2017, services the loan portfolio, and is a repeat RMBS issuer. RAM maintains end-to-end ownership of risk through this integrated platform.
• Diversity Council Australia (DCA)minorOthersRAM is a member of the Diversity Council Australia (DCA), an independent not-for-profit peak body leading diversity and inclusion in the workplace, with over 900 members including many of Australia's largest employers.
• Pride in DiversityminorOthersRAM is a member of Pride in Diversity, Australia's first and only national not-for-profit employer support program for LGBTQ workplace inclusion, and holds Bronze Tier AWEI employer certification.

Scale indicators15 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Charter Hall Group: ASX-listed Australian commercial real estate funds manager (CHC) operating direct property funds across office, retail, industrial, and social infrastructure — directly comparable to RAM's real estate division given overlapping strategy scope and institutional/wholesale client base.
• Perpetual Limited: ASX-listed Australian wealth, asset management, and corporate trust business (PPT) — directly comparable to RAM across multi-asset portfolio management, fixed income, and private equity strategies, with similar institutional and adviser distribution channels.
• Dexus: ASX-listed Australian real estate investment manager (DXS) with direct healthcare, office, and industrial strategies — a direct peer for RAM's Healthcare Opportunity Fund and Diversified Property Fund; several RAM senior staff (e.g., Head of Real Estate) joined from Dexus.
• QIC (Queensland Investment Corporation): Australian institutional investment manager with real estate, private equity, and credit capabilities; several RAM real estate leaders (e.g., Matthew Strotton) joined from QIC's Global Real Estate funds management business, making it a directly comparable alternative asset manager.
• Heathley Capital: Boutique Australian real estate fund manager with a focus on healthcare, social infrastructure, and direct property — closely aligned with RAM's real estate strategy; George Websdale (RAM Head of Real Estate) previously held senior roles at Heathley.
• Magellan Financial Group: ASX-listed Australian asset manager (MFG) providing global equities and multi-asset strategies to institutional and retail clients — directly comparable to RAM's Global Multi Asset Class Portfolios and wealth management distribution model.
• Acorn Capital: Australian investment manager specialising in small-cap listed and pre-IPO equities — a direct JV partner with RAM for private equity (26 investments made together since 2017), making it a directly comparable alternative asset manager in the PE/venture strategy.
• Intermediate Capital Group (ICG): Global alternative asset manager focused on private credit, real estate debt, and private equity — directly comparable to RAM's credit and direct lending strategy, including senior secured real estate and corporate credit.

Broad incumbents

• Lendlease Group: ASX-listed global real estate and investment manager (LLC) — a larger, more diversified incumbent operating across real estate investment management, development, and construction with overlapping investor base but broader geographic and product scope.
• Brookfield Asset Management: Global alternative asset manager with credit, real estate, and private equity strategies — a broad incumbent competing for the same institutional and sovereign wealth fund capital that RAM targets, but at materially greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/real-asset-management-group

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Real Asset Management