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.
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