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Investment Management Firm Conning Takes Majority Stake in Pearlmark
Global investment management firm Conning has completed its acquisition of a majority stake in Chicago-based Pearlmark, a specialist investment manager of commercial real estate debt and equity strategies. Terms weren’t disclosed.
First announced this past November, the deal calls for Pearlmark to continue operating 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,” Woody Bradford, CEO and board chair of Conning, said last November. “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.”
Morgan, Lewis & Bockius LLP served as a legal advisor to Conning on this transaction. CenterCap Group, LLC served as financial advisor and Drane & Freyer Limited served as legal advisor to Pearlmark.
Pictured: Pearlmark CEO Stephen Quazzo.
- ◦Sale/Acquisition
- ◦Financing
