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Conning Takes Majority Stake in Pearlmark Real Estate
Global investment management firm Conning has agreed to acquire a majority stake in Chicago-based Pearlmark Real Estate, L.L.C. Terms weren’t disclosed. Pearlmark will continue to operate autonomously with its investment team led by Stephen Quazzo and Doug Lyons.
“Partnering with Pearlmark is the latest example of our strategy to add best-in-class capabilities to meet the evolving needs of our clients,” said Woody Bradford, CEO and board chair of Hartford, CT-based Conning. “Pearlmark has extensive real estate knowledge and significant experience successfully working with insurance companies and other institutional clients to help them achieve their real estate investment objectives.”
Added Stephen Quazzo, Pearlmark CEO, “Conning’s investment and client-oriented culture is a perfect fit for our business, and they are the ideal strategic partner to help us strengthen and grow our platform.”
Founded in 1996, Pearlmark is focused on U.S. mid-cap real estate investments in both equity and debt.
- ◦Sale/Acquisition
