ING Clarion Kicks Off DC Real Estate Offering
A news release said Douglas L. DuMond has joined
the firm as a Managing Director to lead the new
initiative, which the company said is designed to give
plan sponsors access to private real estate investments.
The firm plans to launch a set of real estate-related
investment vehicles for DC, defined benefit and managed
asset allocation programs. According to the company,
the underlying assets will consist of both direct real
estate including office, retail, multi-family residential
and industrial properties, as well as a portfolio of
global real-estate securities.
“In the past, plan sponsors and participants have
had few opportunities to invest in private real
estate. Our strategy provides a simple,
straightforward approach to this asset class,” said
Stephen J. Furnary, Chairman and Chief Executive Officer
at ING Clarion, in the announcement.
DuMond comes to ING Clarion Partners from BlackRock,
where he was a Managing Director and head of that
firm’s U.S. defined contribution business.