RCS Capital Corporation, also known by its ticker RCAP, announced today that it has completed acquiring Strategic Capital Advisory Services and affiliate SC Distributors, LLC, a wholesale distributor of alternative investment vehicles. The two units typically referred to as SC, will be operated under the Strategic Capital brand.
RCAP originally announced its intent to purchase SC in late May for a total price of $80 million.
“We are extremely pleased to have completed the acquisition of Strategic Capital, further enhancing our industry leading wholesale distribution platform,” said William M. Kahane, Chief Executive Officer of RCAP.
“We are excited to join the RCAP family,” commented Patrick Miller, co-founder of SC, and President of SCD. “We are confident that our product sponsors and broker-dealer partners will realize significant benefits from our partnership with RCAP.”
SC already distributes Carter Validus Mission Critical REIT II, Sierra Income Corporation, TriLinc Global Impact Fund, and Greenbacker Renewable Energy Company. They are also the dealer manager for RREEF Property Trust, a non-traded REIT, that RC Securities, Schorsch’s wholesale distribution company, began wholesaling as of late March.
“We believe the integration of Strategic Capital’s superior investment product offerings coupled with its proven distribution model and technology platform will enable us to continue to execute on our vision to provide a diversified, high-quality portfolio of investment solutions, particularly with investment products beyond American Realty Capital (ARCP)-sponsored products,” added Kahane.