OneConnect Financial Technology Co Ltd
Change company Symbol lookup
Select an option...
OCFT OneConnect Financial Technology Co Ltd
JRVR James River Group Holdings Ltd
DIDIY DiDi Global Inc
SHOP Shopify Inc
NTR Nutrien Ltd
APGN Apexigen Inc
WE WeWork Inc
NOK Nokia Oyj
HLNE Hamilton Lane Inc

Information Technology : Software | Small Cap Value
Based in China
Company profile

OneConnect Financial Technology Co Ltd is a holding company providing technology-as-a-service for the financial services industry. The Company’s integrated technology solutions span digital retail banking, digital commercial banking, and digital insurance segments with comprehensive solutions, encompassing sales management, risk management and operation support services within each segment. The Company builds and operates a Gamma Platform, which is a technology infrastructural platform for financial institutions. The Company’s product and service offerings can be deployed either on an integrated basis to deliver full-stack end-to-end solutions or on an incremental basis to quickly respond to customer requirements.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Day's Change
0.06 (5.00%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 685,703 shares is on pace to be much greater than OCFT's 10-day average volume of 459,529 shares.


Ashcroft Capital Announces Closing of New Partnership Backed by Institutional Investors Including Goldman Sachs Asset Management and Blackstone Strategic Partners

3:00 pm ET June 1, 2022 (PR Newswire) Print

New institutional partners will support the further expansion of Ashcroft's Sun Belt multifamily portfolio

Ashcroft Capital ("Ashcroft"), a vertically integrated multifamily investment firm, today announced the closing of a strategic partnership (the "Partnership") with institutional investors including investment funds advised by Goldman Sachs Asset Management and Blackstone Strategic Partners. The Partnership will provide liquidity to existing investors across the Ashcroft portfolio in addition to funding future acquisitions. The Partnership expects to invest in value-add multifamily properties throughout the Sun Belt markets, and Ashcroft currently anticipates that the Partnership will acquire real estate assets with an aggregate cost of $800 million.

Ashcroft currently owns communities throughout Texas, Georgia and Florida, and is seeking to expand into the Carolinas, Arizona, Colorado, Tennessee and Nevada. Birchstone Residential, Ashcroft's in-house property management affiliate, will manage all properties acquired by the Partnership.

"We're excited to partner with such highly respected and experienced institutional groups," said Frank Roessler, founder and CEO of Ashcroft. "We are grateful for their support and confidence in us, as we continue to execute our value-add strategy, focusing on diligent underwriting, business plan execution and seeking to drive a best-in-class resident experience. This partnership will enable us to continue to expand at a rapid-yet-measured pace, as we'll carefully select assets that fit within our investment parameters and possess a tremendous potential upside in our key markets."

Since its inception in 2015, Ashcroft has acquired more than 14,600 apartment homes spanning nearly 50 communities. In an active 2021, Ashcroft acquired 11 properties totaling more than 3,500 units across three states. Ashcroft, with over $1.9 billion in assets under management as of December 31, 2021, is targeting approximately 15 to 20 acquisitions in 2022. In addition to portfolio expansion, Ashcroft and Birchstone each possess growing teams to support and expedite the continued acquisition efforts.

"We are delighted to welcome these new blue-chip limited partners, and we look forward to the continued expansion of our institutional platform," said Bill Kay, managing director of capital markets for Ashcroft. "As we continue to grow, it is invaluable to be backed by such esteemed institutional players and we remain eager to acquire well-vetted assets in our target markets and further expand the portfolio."

Ashcroft's value-add strategy generally includes an update and modernization of the amenity spaces, improved curb appeal and upgrades to landscaping and community signage. Ashcroft also modernizes apartment interiors with features such as stainless steel appliances, hard-surface countertops, upgraded lighting and plumbing fixtures, tile backsplashes, and vinyl-plank flooring to create a better living experience and make assets more appealing in their respective markets.

Through a competitive lender selection process managed by Eastdil Secured, PGIM Real Estate, the $209.3 billion real estate business of PGIM, the $1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU), has committed core-plus financing in support of certain acquisitions executed by the Partnership in connection with its closing, as well as in support of funding for property renovations.

"We are pleased to further expand our lending relationship with Ashcroft Capital," said Trevor Arnholt, Vice President, PGIM Real Estate who led the deal on the firm's behalf. "This transaction represents a continuation of our commitment to and positive outlook for the multifamily sector, particularly in the growing hubs in the Sun Belt region."

Latham & Watkins LLP served as counsel to the general partner in connection with the offering of interests in the Partnership.

Devon Park Advisors provided strategic capital raising services to Ashcroft Capital.

About Ashcroft Capital

Founded in 2015, Ashcroft Capital is a vertically integrated multifamily investment firm that has acquired 47 communities comprising over 14,600 units since its inception and now has over $1.9 billion in assets under management as of 12/31/2021 throughout several high-growth metros of the Sun Belt. The firm focuses on capital preservation while striving to return strong, risk-adjusted cash-on-cash to investors. Ashcroft is capitalized with high net worth, family office and institutional capital. Ashcroft specializes in value-add multifamily real estate and aims to exhibit an expertise in extracting maximum value from every asset it acquires. Rather than attempting to play cycle timing, the firm strives to acquire excellent apartment communities within well-located submarkets of large and growing U.S. metros.

About Birchstone Residential

Birchstone Residential is the in-house property management company of Ashcroft Capital. It has a comprehensive property management platform that provides all essential services, including leasing, maintenance and construction management. Birchstone was purpose-built to execute the value-add business plan for each Ashcroft property, optimize financial returns and deliver high resident satisfaction. Committed to a people-centric culture and employee development through job training, job enrichment and accelerated development, Birchstone seeks to provide best-in-class service that attracts new residents and enriches the lifestyles of current residents.

About Goldman Sachs Asset Management Vintage Funds

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market--overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1998, the Vintage Funds within Goldman Sachs Asset Management have been innovators in the secondary market and have invested over $40 billion of capital since inception. The Vintage Funds provide liquidity, capital and partnering solutions to private market investors and managers worldwide across private equity strategies. Follow us on LinkedIn.

Blackstone Strategic Partners

Strategic Partners is a global leader in illiquid fund investing, including secondaries, co-investments and primary advisory. The Strategic Partners business was founded in 2000 and has significant experience in providing limited partners a range of liquidity solutions across illiquid asset classes on a fair, timely and confidential basis. Strategic Partners is one of the most prolific secondary market participants in the world and is recognized as an innovative investor, with broad transaction capabilities that reinforce its established reputation as a nimble and responsive investor. Through its private equity, infrastructure and real estate platforms Strategic Partners has executed over 1,800 transactions that represent interests in approximately 4,900 underlying fund interests managed by over 1,500 different financial sponsors. Strategic Partners is a business unit of Blackstone (NYSE: BX), the world's largest alternative asset manager.

About PGIM Real Estate

As one of the largest real estate managers in the world with $209.3 billion in gross assets under management and administration,1 PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).

PGIM Real Estate's rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit

1 As of Dec. 31, 2021. AUM reflected as gross. Net AUM is $137.9 billion and AUA is $45.9 billion.2 Includes legacy lending through PGIM's parent company, Prudential Financial, Inc.

Media Contact for Ashcroft and BirchstoneStephen UrseryLinnellTaylor Marketingstephen@linnelltaylor.com303.682.3945

Media Contact for PGIM Real EstateKatlyn LambProsek Partnersklamb@prosek.com860-391-1442

This Press Release contains forward-looking statements that are based on Ashcroft's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates," variations of these words and similar expressions are intended to identify forward- looking statements which include, but are not limited to projections of revenues, earnings, returns, etc. These statements are not guarantees of future performance and involve numerous risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in this Press Release due to a variety of factors. All of the interests in the Partnership having been sold, this Press Release has been issued as a matter of record only, and does not constitute an offering of any security, or as a solicitation of an offer to acquire any security.

View original content to download multimedia:

SOURCE Ashcroft Capital

comtex tracking


Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.