Resource America Announces Australian Joint Venture and Launch of Global Real Estate Opportunities Fund

Marketwired

PHILADELPHIA, PA--(Marketwired - Sep 12, 2013) -  Resource America, Inc. (NASDAQ: REXI) (the "Company") announced today it has launched its institutional real estate global securities business with a joint venture with Channel Capital, an affiliate of an Australian fund manager Solaris Investment Management with several billion dollars of institutional equities under management. The Company also announced the launch of Resource Real Estate Global Opportunities Fund (the "Global Fund"), which will be managed by Resource America and its subsidiary Resource Real Estate, Inc. ("RRE")

Earlier this year, the Company started its first real estate securities mutual fund, Resource Real Estate Diversified Income Fund, and this new Joint Venture and launching of the Global Fund is an expansion of the Company's real estate securities asset management business. "Resource America, as a global alternative asset manager, is excited to combine our expertise in real estate and financial markets with Channel's tremendous capabilities," said Jonathan Cohen, CEO of Resource America.

Channel Capital is a boutique institutional investment manager incubator, and is currently partnered with several institutional investment managers with blue chip institutional clients and established investment consultant networks.

In connection with the Joint Venture, RRE has added John Snowden, a veteran industry Global Portfolio Manager, to its global real estate Team. Mr. Snowden has held roles as Global Portfolio Manager for both Colonial First State and UBS. Snowden will be responsible for the Asia Pacific region and will report to Scott Crowe, who oversees the Company's entire real estate securities investing platform and is Portfolio Manager for the Americas and Europe.

The Global Fund seeks to provide institutional investors with unique access to global property securities by combining the Company's real estate expertise with Scott Crowe's investment process and proven track record, developed over fifteen years as Global Head of Real Estate Research at UBS and lead Global Portfolio Manager at Cohen & Steers. "The RRE Global Opportunity Fund offers a highly differentiated approach. Our investment process identifies high quality growth companies at attractive valuations and our benchmark agnostic portfolio construction concentrates our client's capital in the best opportunities globally," said Scott Crowe.

Resource America, Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the real estate, financial fund management and commercial finance sectors. For more information please visit us at www.resourceamerica.com or contact Marketing and Investor Relations at pkamdar@resourceamerica.com.

Resource Real Estate is a subsidiary of The Company and for over two decades, has acquired, managed and harvested complex real estate assets for institutional and individual investors, joint venture partnerships as well as for their own accounts. Together with its parent company, they have offices in New York, Los Angeles, London, Singapore, Australia as well as its headquarters in Philadelphia and additional locations across the U.S.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. The Company undertakes no obligation to update or revise any forward looking statement to reflect new or changing information or events.

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